MREA: Systematizing Lead Generationimages.kw.com/docs/0/0/0/000371/1292020613894_MREA_Workshop... · The difference between lead generation and lead receiving 2. ... Understanding

© 2004 V3.2 KELLER WILLIAMS REALTY, INC.

M i l l i o n a i r e R e a l E s t a t e A g e n t

MREA: Systematizing Lead Generation

Bryon Ellington

A Course for the Millionaire Real Estate Agent

Preface


32BNotes…

Realtor® is a trademark designation of a member of the National Association of Realtors. No person who is not a member of NAR may use the designation Realtor® to refer to themselves.

Preface


Acknowledgements

Keller Williams University would like to thank all of the contributors to MREA: Systematizing Lead Generation. We would like to give special thanks to the following contributors:

Gary Keller

Dave Jenks

Jay Papasan

The Gary & Nikki Team

The Gentry Group

The Goodlife Team

The Hardie Group

The McKissack Group

The Scheffe Group

Smith & Associates

NOTICES While Keller Williams Realty International (KWRI) has taken due care in the preparation of all course materials, we cannot guarantee their accuracy. KWRI makes no warranties either expressed or implied with regard to the information and programs presented in the course or in this manual.

This manual and any course it’s used as a part of may contain hypothetical exercises that are designed to help you understand how Keller Williams calculates profit sharing contributions and distributions under the MORE System, how Keller Williams determines agents compensation under the Keller Williams Compensation System, and how other aspects of a Keller Williams Market Center’s financial results are determined and evaluated. Any exercises are entirely hypothetical. They are not intended to enable you to determine how much money you are likely to make as a Keller Williams Licensee or to predict the amount or range of sales or profits your Market Center is likely to achieve. Keller Williams therefore cautions you not to assume that the results of the exercises bear any relation to the financial performance you can expect as a Keller Williams Licensee and not to consider or rely on the results of the exercises in deciding whether to invest in a Keller Williams Market Center. If any part of this notice is unclear, please contact Keller Williams’ legal department.

Materials based on the Recruit-Select-Train-Manage-Motivate™ (RSTMM™) system and the Winning Through Selection™ course have been licensed to Keller Williams Realty International by Corporate Consulting. KWRI has the exclusive right within the residential real estate industry to market and present material from RSTMM™, Winning Through Selection™, and any derivatives owned by or created in cooperation with Corporate Consulting.

Material excerpted from The Millionaire Real Estate Agent appears courtesy of The McGraw-Hill Companies. The Millionaire Real Estate Agent is copyright © 2003 Rellek Publishing Partners LTD. All rights reserved.

All other materials © 2004 Keller Williams Realty Inc. All rights reserved.

Printed August 2007.

No part of this publication and its associated materials may be reproduced or transmitted in any form or by any means without the prior written permission of Keller Williams Realty Inc.

Preface


TABLE OF CONTENTS

UINTRODUCTION TO MREA: SYSTEMATIZING LEAD GENERATIONU ...............1

1. UGround RulesU 2

2. UWhat You Will LearnU 3

3. UWhy You Are HereU 5

4. UHow You Will LearnU 6

UCHAPTER 1: IN THE BUSINESS OF LEAD GENERATIONU................................. 7

1. UThe Evolution of Lead GenerationU 8

2. UThe Positioning BattleU 11

3. ULead Generating vs. Lead ReceivingU 14

UCHAPTER 2: BUILDING YOUR DATABASE U .....................................................20

1. UYour Business is Your DatabaseU 21

2. UBuild a DatabaseU 23

3. UFeed It Every DayU 34

UCHAPTER 3: WORKING YOUR DATABASE U .....................................................39

1. UCommunicate with It in a Systematic WayU 40

2. UService all the Leads that Come Your WayU 67

UCHAPTER 4: MARKETING-BASED, PROSPECTING-ENHANCEDU......................74

1. UMREA Lead Generation StrategyU 75

2. UClarity of MessageU 78

3. UFocusU 83

4. UDiversityU 98

UCHAPTER 5: MILLIONAIRE REFERRAL SYSTEMS U ........................................ 103

1. UReferral StrategyU 104

2. UCultivating Your Inner CirclesU 112

UCHAPTER 6: KNOWING YOUR NUMBERS U.................................................... 122

Preface


1. UWeighing Your Options U 123

2. UPlaying the Numbers GameU 125

3. UThe Influence of Your Economic Model U 127

4. ULead Generation Ratios U 128

5. UHitting Your Numbers U 131

6. UThe Cost of SuccessU 136

UCHAPTER 7: PUTTING IT ALL TOGETHERU.................................................. 141

1. UOvercoming ObstaclesU 142

2. UProtecting Your Lead Generation TimeU 143

3. UKeeping FocusedU 146

4. UWhat Have You Learned? U 149

UAPPENDIXU .................................................................................................. 151

1. UCommunicating Your MessageU 152

2. USample Marketing MaterialsU 172

3. UIVR Script TemplateU 190

4. UYour Annual Lead Generation GoalsU 191

Introduction


MREA: SYSTEMATIZING LEAD GENERATION

Introduction to MREA:

Systematizing Lead Generation

In this chapter, you will…

[1] Describe the ground rules for the MREA: Systematizing Lead Generation class. [2] Describe the Why, What, and How for learning

MREA: Systematizing Lead Generation.

Introduction


0BGround Rules 1. Arrive to class on time and return promptly from breaks.

2. Move quickly when you are instructed to form small groups or partner with someone to role play.

3. Limit your side conversations.

4. Turn your cell phones and pages to vibrate or OFF.

5. Feel free to stand and walk around if you find yourself getting tired.

6. Accept the reality of time and participation.

7. Respect the different learning styles and opinions of others.

8. Help each other learn because none of us is as smart as all of us working together to improve our skills and knowledge.

9. Consider everything we discuss confidential. What is discussed and role-played behind closed doors UstaysU behind closed doors.

10. Have Fun!

Introduction


1BWhat You Will Learn

184BAbout MREA Business Systems

The Millionaire Real Estate Agent courses were created to help you and your team design and implement business systems that will increase your productivity. From lead generation to lead conversion, post-closing to managing the office, the systems you put into place will dictate the efficiency of your team.

The courses in the MREA curriculum present a comprehensive set of systems to improve and maintain key elements of your business. Used in conjunction with the MREA: Operation Manual and the MREA: Scripts Catalogs, the MREA courses will train each member of your team on how to design and implement the systems that affect their particular duties. Once they are trained on these systems, you can easily incorporate the distinctive elements of your team and local market, such as marketing messages and customer services.

Many of the ideas and systems presented in these courses will be a complete paradigm shift for you and your team. The goal is to train your team to go from an entrepreneurial mindset to a purposeful one (E to P). This shift is meant to change you and your team’s way of thinking from that of a sales career to that of a real estate business. If you are in the process of building your team, these courses will show you how to leverage others to get the job done better than you ever could have alone.

Integrating any one of these systems may necessitate changes in current procedures. However, exercise caution in implementing excessive amounts of change in your business too quickly. Trying to completely rearrange many facets of your business all at once can have disastrous effects on your productivity. These changes should come about incrementally over time. For best results, use the 4-1-1 to plan out a progressive incorporation of these systems into your business. And after implementing any changes to your business, you should always play Red Light, Green Light to hold those changes accountable and determine their effect on your team’s productivity.

(continued on the next page)

Introduction


33BWhat You Will Learn

185BMREA: Systematizing Lead Generation Outline

Chapter Topics

1. In the Business of Lead Generation

a. The evolution of lead generation b. The positioning battle c. The difference between lead generation and lead receiving

2. Building Your Database

a. Understanding that your business is your database b. Building a database c. Feeding it every day

3. Working Your Database

a. Communicating to it in a systematic way b. Servicing all the leads that come your way

4. Marketing-based, Prospecting-enhanced

a. Understanding the MREA Lead Generation Strategy b. Presenting a clear, cohesive and consistent image and a powerful message c. Focusing on seller listings d. Diversifying your lead generation by making it marketing-based,

prospecting- enhanced

5. Millionaire Referral Systems

a. Educating, asking, and rewarding for referrals b. Cultivating your Met database inner circles

6. Knowing Your Numbers

a. Discovering what works and doesn’t work for you b. Playing the lead generation numbers game c. The influence of your Economic Model d. Lead generation ratios e. Hitting your numbers f. The cost of massive lead generation success

7. Putting It All Together

a. Overcoming obstacles b. Protecting your lead generation focus time c. Keeping focused


You are here.

Introduction


2BWhy You Are Here Goal of MREA: Systematizing Lead Generation

To show you how to take your business to the next level by instituting a scalable lead generation plan

239BWhat do you want to get out of this course?

Introduction


3BHow You Will Learn 186BGet ready for some action-oriented training!

240BIn order to learn and succeed, you will:

1. Participate in large group interactive lecturettes.

2. Participate in small group discussions and exercises.

3. Observe your instructor as he/she demonstrates the desired skills and behaviors.

4. Develop an Action Plan based a self-assessment.

Are you ready for some action-oriented training?

Are you ready to learn how to be as profitable as you can be?

In the Business of Lead Generation Chapter 1



Chapter 1: In the Business of Lead

Generation


[1] Describe the evolution of lead generation in real estate and an agent’s career. [2] Recognize the positioning battle and your

strategy to win it. [3] Understand that the real estate business is

actually the lead generation business. [4] Describe the difference between lead generating

and lead receiving.



4BThe Evolution of Lead Generation 187BHow the Game Has Changed

UProspectingU

UMarketingU

UReferralsU

UMREA Lead

Generation SystemsU

Haven’t Met Database

Targeted Haven’t Met and Met

Databases

Met Database Met and Haven’t Met Databases

Finding business by cold calling, door knocking, and networking through your sphere of influence generates immediate results. This is the quickest way to find business.

SEEK!

Targeting groups and steadily getting specific messages across to them is a long-term strategy to bring new customers to you that requires a significant financial investment.

ATTRACT!

Asking people you know to give you business can yield a steady stream of warm, qualified leads. This is a long-term strategy that is dependent on a high level of customer service and constant personal communication.

MULTIPLY!

Hiring the right individuals and using technology allows you to utilize all of these types of lead generation. This diversity will add stability to your business and allow you to continually add a new stream of clients to your database to whom you can market for business and referrals.

MAXIMIZE!




34BThe Evolution of Lead Generation

188BHow Your Career Will Evolve

241BPlanning for the Future with the Present in Mind

What you should see is that the evolution of Lead Generation over the past 50 years closely mirrors the evolution of lead generation in an agent’s business.

312BSurviving

The need to pay the bills forces newer agents to focus their efforts on getting the next deal. So their lead generation plans tend to be transaction-based. Meeting the immediate financial needs of their business pushes them toward prospecting activities like cold-calling and door-knocking. These sorts of aggressive lead generation activities will generate leads in the shortest amount of time. Targeted prospecting also enables agents to amass a great deal of names in their contact database in a relatively short amount of time.

313BDeveloping

Agents who don’t like the anxiety and rejection associated with prospecting prefer the more indirect method of lead generation, marketing. Marketing allows them to reach a broad targeted audience while expending a minimal amount of time.

And after they have been in the business for a while, most agents will begin to become more relationship-focused—that is, they will begin to use a database of clients to generate referrals. Referrals are people-leveraged in that they allow agents to generate leads through others. But marketing and referrals take time to generate leads and can be expensive. And agents’ databases do not grow as quickly as with prospecting.

314BThriving

In order to generate the leads necessary to net—and ultimately receive—a million, you will need to follow a highly leveraged lead generation plan that incorporates both marketing and prospecting activities. Your lead generation must become relationship-focused (long term) and yet, still remain transaction-based (short term). You must work on generating referral leads and repeat business from past clients while still searching out new clients through marketing and prospecting to keep your business fresh.




35BThe Evolution of Lead Generation How Your Career Will Evolve (continued)

This is when you become a lead generation artist—it requires mastery and internalization of the lead generation elements. The ultimate evolution in your lead generation game is becoming a master at passing that knowledge on to others on your team and holding them accountable for doing it.

Lead generation

for the long-term

that still keeps the

immediacy is

referred to as

“marketing-based,

prospecting-

enhanced.”



5BThe Positioning Battle 189BWinning the Battle

Exercise

How many brands can you think of?

Directions:

1. With a partner, each of you take a turn picking a product or service (such as bottled water) that your partner must name as many brands of the product (Evian®, Dasani®, etc.) as they can in one minute.

2. Keep track of how many each of you names.

Time: 10 minutes

242BReal Estate Mind Share Positioning

Under the constant bombardment of advertising and marketing, the human mind becomes saturated by brands and can hold only a finite number at any one time. Al Ries and Jack Trout, in their book Positioning: The Battle for Your Mind, cite the work of Harvard psychologist George A. Miller when they assert that the maximum number of product brands we can remember for a given category—the brand “saturation point” for the mind—is seven.

Chances are, if the average person can’t name more than seven brands of potato chip, they can’t possibly name more than two or three real estate agents in their market. Data from the “2002 National Association of Realtors® (NAR) Profile of Buyers and Sellers” tends to back this up.




36BThe Positioning Battle Winning the Battle (continued)

Appears on page 134 of The Millionaire Real Estate Agent

According to NAR research:

1. 76% of all sellers contacted only one agent and 16% contacted just two.

2. 59% of all buyers contacted only one agent and 22% contacted just two.


Average out the NAR statistics, and you’ll see that roughly 86.5% of all buyers and sellers seem to have room in their minds for only one or two real estate agents.



37BThe Positioning Battle Winning the Battle (continued)

The Point You want to be one of these two agents.

In fact, your success in real estate will be in direct proportion to the number of people, who, when they think of real estate, think

of you!

Question How do you win the first positions of real estate mind share

with enough people to meet your goals?

Answer Through systematic lead generation.

In the battle for real estate consumer mind share, you’re either first or second, or you’re out of contention.



6BLead Generating vs. Lead Receiving 190BReal Estate is Lead Generation

243BNo Leads Mean No Business

Truth Your real estate business is your ability to generate leads; nothing is as important to your sales career as prospective

buyers and sellers.

And yet many agents still put trivial activities before lead generation. Lead generation must be at the forefront of your consciousness and your activities at all times.

And your lead generation must never stop. There is no such thing as too many leads. If your lead generation methods are consistently bringing you home more business than you think you can currently manage, then it is time to leverage by hiring talent. It is not time to stop lead generating. When your lead generation stops, your business suffers.

244BA Not-Too-Subtle Point

There is a world of difference between lead generating and lead receiving:






38BLead Generating vs. Lead Receiving Real Estate is Lead Generation (continued)

Lead Receiving Lead Generating

• Erratic

• Relies on passive sources (yard signs, floor duty, etc.), casual referrals, and luck to get leads

• Agents find themselves selling very few houses when the market shifts

• Active and systematic

• Focuses on direct prospecting and marketing activities

• Agents shift their mix of prospecting and marketing in shifting markets

Truth Until you have enough leads to exceed your goals, there is

no other issue but lead generation.

245BYour Biggest Challenge

The biggest challenge to being successful at the highest level in real estate is continuing to focus on lead generation no matter how many leads you have nor how busy you become.

Once a high number of leads are being generated, there is a tendency to settle for that number, and devote more time and energy to servicing that business. Agents and their teams become stretched trying to handle their existing business and simply take their eye off the ball, neglecting their lead generation program.




39BLead Generation vs. Lead Receiving Real Estate is Lead Generation (continued)

315BFight temptation

1. Your lead generation program must always be active; when it is idle for any length of time, it loses its strength and momentum. Many agents shift their focus between generating leads and servicing the leads. These agents experience an up-and-down cycle of activity and cash flow that does not support long-term stability and success. Don’t let this happen to you. Dealing with today’s business should never take precedence over growing tomorrow’s business. To be most effective, your lead generation needs to be systematic, consistent and sustained. It never stops and never rests; never take your eye off of the lead generation ball.

2. Since time is a critical issue, you should shift your lead generation activities largely toward marketing. Marketing is simply more time-efficient and, therefore, more leveraged than prospecting.

3. Marketing is at its best and most effective when it is database-driven. Within a few hours a week, agents can shape and disseminate their marketing messages, which reach as many people as they can amass in their database.

4. Use the 8 x 8, 33 Touch, and 12 Direct programs to systematically deliver your marketing messages to your chosen audiences.

5. Don’t ignore prospecting. Use prospecting to enhance your marketing, but delegate some of it to a dedicated telemarketer. Calling your Sphere of Influence and people who can send you multiple leads is always your job until you replace yourself.

6. Everyone on your team must master scripts and dialogues.

7. Don’t wait until you are being overwhelmed by leads to hire someone. Be proactive in hiring. You are in the business of lead generation not only for leads, but for talent, as well.



40BMy Scorecard

Exercise

Directions:

We have reached the end of this chapter! Before we move on, take five minutes to assess your mastery of this chapter's objectives. 1. Refer to the My Scorecard sheet located at the back of this manual.

2. Review the topics for this chapter.

3. Grade yourself on your mastery level of each topic (A - F). Be honest with yourself. At the end of this course, you will use this scorecard to evaluate your weak areas and develop an action plan for complete mastery of the subject matter.

Time: 5 minutes



41BGive an Aha!, Take an Aha!

Exercise

Directions:

1. Look at numbers 1 and 2 below. Think about what concepts you are still struggling with. And think about any Aha!’s you may have had about being in the business of lead generation.

2. Your instructor will throw out an Aha! topic. If you have an Aha! about that topic, raise your hand and share.

3. When you have given your Aha!, you will name the next Aha! topic for someone else to share. If you are struggling with a particular concept or would like to hear someone else’s take on it, solicit an Aha! on the topic.

4. Put your Aha! or the Aha! of someone else into action using the worksheet below

Time: 10 minutes

1. The concept I’m still struggling with:

2. The single most important “Aha!” for me:

3. How I will use this “Aha!”:

4. How I will benefit:

5. What I need to do to make this happen:

Building Your Database Chapter 2



Chapter 2: Building Your

Database


[1] Understand that your business is your database. [2] Build a database using contact management

software that can handle a millionaire-level lead generation program. [3] Set up systems to incrementally grow your

contact database.



7BYour Business is Your Database 191BBuilding Your Business

Your ability to generate leads—and therefore, grow your business—is tied to your ability to amass and systematically market to a large database of contacts. This is why we say your business is your database.

Think about it for a moment. When you hear of anyone in the personal services industry selling their business, what do you think they mean? What is it that a doctor or an attorney really sells? Since they don’t have a product per se, what they’re selling usually boils down to a few things: their staff, their systems, and their customer base.

When a doctor buys the practice of another doctor, the most important things that he buys are the names of clients and the relationships of those clients with the former doctor. The importance of this concept should not be overlooked.

Truth At the heart of your lead generation program is a large,

powerful contact database. And the size of your real estate business will be in direct proportion to the size and quality of

your database.



182BYour Business is Your Database 192BThe Four Laws of Lead Generation

The following four laws will help you maintain your focus on daily lead generation:

1. Build a database.

2. Feed it every day.

3. Communicate with it in a systematic way.*

4. Service all the leads that come your way.*

* Laws 3 and 4 will be discussed further in the next chapter.



8BBuild a Database 193BContacts

246BContact information

Your job is to fill your database with as many clients and people you know as possible. When entering contacts into your database, be sure to include all relevant information.

316BFor all contacts

The following information is a must have for all of your contacts:

1. Name 2. Phone number (home, mobile, office, and fax) 3. Email address 4. Home address 5. Notes on past correspondence 6. Source 7. Database group 8. Active (Are they actively searching or selling or are they prospective

buyers or sellers?) 9. Status level (A, B, or C) 10. Contact type

a. FSBO b. Expired c. PTA

d. Women’s Symphony League

e. _____________________________

f. _____________________________

g. _____________________________

h. _____________________________

i. _____________________________






42BBuild a Database Contacts (continued)

317BFor your inner circles

The following information is nice to have for all of your contacts, but is a must have for your inner circles:

1. Birthday

2. Spouse’s/children’s birthdays

3. Children’s names

4. Anniversary

5. Hobbies

6. Job position

7. Company

You should calendar all important dates (birthdays, anniversaries, etc.) and set calendar reminders, so you remember to call these contacts on those dates.

318BUpdating your database

Every time a contact completes a transaction or finishes a plan, be sure that:

1. Their contact information is updated.

2. They are in the correct database category and group.

3. They are on the correct database plan.

4. The notes are current*.

*It is very important that all team members record the dates and relevant highlights of any correspondence with a contact. Recalling important details about a client lets them know that they are important, but this can be difficult on a team since different team members interact with the client. Keeping notes in your contact management software (CMS) allows anyone on the team to be able to quickly look at the client’s history and carry on a continuing dialogue with him or her.




43BBuild a Database Contacts (continued)

319BCustomizable fields

The top contact management software will allow you to create customizable fields for information you would like to keep on your customers. These fields allow you to perform quick searches of your database to find contacts of a particular nature to send out specific marketing messages. Such fields might include:

1. Name of team’s Buyer/Listing Specialist working with contact

2. Year closed

3. Co-op agent

4. Referring agent

5. Investor

6. Adopted buyer (non-team buyer who bought a team listing)

7. Sales price

8. Description of house

9. Interest rates

10. Type of loan

11. _____________________________________________

12. _____________________________________________

13. _____________________________________________

14. _____________________________________________

15. _____________________________________________



44BBuild a Database

194BContact Management Software

247BUsing Contact Management Software

Your lead generation is dependent upon the size and effectiveness of your database. The more contacts you add to your database and the more efficiently you manage those contacts, the more leads your marketing and prospecting will generate. But managing the large number of contacts necessary for millionaire-level lead generation is neither practical nor cost-effective unless you are using contact management software (CMS).

CMS (such as Top Producer, Online Agent, Act, etc.) allows you to effectively leverage yourself in lead generation. Keeping your contacts in a computerized database provides:

1. Quick access to your contacts for eMarketing.

2. Easier direct mailing since you can print labels or export your database file to a direct mail service from your desktop.

3. A centralized location to store all information about your contacts. The dynamics of a mega team requires that several people be able to access your database at the same time.

And…

4. The top software programs have process/campaign/plan generation for team members.

5. Many contact management programs now offer PDA synchronizing and Web-based versions, so your database can go where you do.




45BBuild a Database Contact Management Software (continued)

248BDeciding Which CMS to Use

When it comes to contact databases, size and frequency of use distinguish top agents. A poll of several top twenty associates at Keller Williams reveals an average database size of 3600 contacts, and these agents use their contact databases daily (Source: Eagentc Survey, December 2002).

In addition to updating existing contacts continually, these top agents add an average of 17 new contacts per week and remove an average of 7 contacts per week. Due to the large sizes of their databases, these agents group their contacts by relevance to their business, so they can send marketing pieces targeted to each group.

Managing a database of this size without using contact management software would be extremely inefficient, to say the least. Contact management software is more than a glorified address book. Think of it as a production tool. Each contact you have is a potential sale, and used properly, contact management software will help you tap into that potential with minimal effort. It’s a money machine!

Although there are many different contact database management programs, 84% of KW associates surveyed use Top Producer, Online Agent, ACT!, or Microsoft Outlook (Source: Eagentc Survey, November 2002). Most agents prefer programs like Top Producer, which are real estate-specific programs and offer “value-add” features, such as transaction tracking, template-based action plans, listing presentations, and marketing flyers.

320BFeatures you should expect

Any contact management software that you buy should have the following features:

1. Contact information management – Expect fields for detailed contact information, including birthdays, professions, hobbies, and children’s names. Look for contact fields you can customize. You should also be able to keep detailed records of your correspondence with each contact.

2. Address book importing and exporting – If you are switching from one contact manager to another, you can avoid manually re-entering all your existing contacts by importing them in one file. Similarly, make sure that you can export your contacts from the new contact manager easily for back-ups and direct mail pieces that you may outsource.





3. Transaction management – You can assign tasks to your assistants, store contracts, and track your listings, closings, and other transactions. Integrating this functionality into a contact management system can reduce double and triple data entry.

4. Calendaring and appointment scheduling – Record upcoming and recurring events on a calendar, set appointments with other team members, and remind yourself of these events and appointments. Your 8 x 8 and 33 Touch plans should feed into your calendar for automated reminders to contact clients at the specified times.

5. Email integration and automation – Merge your contacts into mass emails for marketing and recruiting, either one piece at a time or in a pre-programmed email campaign.

321BFeatures you may want

In addition to the basics, the top programs will offer some version of the following:

1. Reports – You can use reports to analyze different areas of your business, such as the effectiveness of your marketing campaigns or the seasonality of your listings.

2. Marketing material – You may be able to merge your contacts with a library of pre-designed letters, flyers, postcards, and other marketing material.

3. Web-based software – Some contact management software is installed to your computer from disk and can be networked across the office. However, you may spend enough time away from your computer that a contact database accessible over the Internet can be indispensable. In this case, all of your database activities are done online and require connection to the Internet.





249BWhat the Best Use

The Millionaire Real Estate Agents use:

Top Producer 33%

Online Agent 22%

ACT! 22%

Other (Outlook, Agent 2000, etc.) 36%

(Source: Eagentc Survey, October 2003)



48BBuild a Database

195BGrouping Your Contacts

250BMets and Haven’t Mets

As part of building your database, you will classify each of your contacts into categories and groups:

322BYou are generating leads from two categories

1. People you have Met, and

2. A targeted group of people who you Haven’t Met.

323BThese categories yield three types of business

1. New (from Haven’t Met)

2. Repeat (from Met)

3. Referral (most likely from Met)

324BSubdivide your categories into groups

Your Met and Haven’t Met databases should be further divided into groups of relevance. Generally speaking, you will divide your Haven’t Met database into the public en masse and a targeted portion of the public. Your Met database will be divided according to their relevance to your business.

Use the chart on the next page to guide you in sorting your database into groups.




49BBuild a Database Grouping Your Contacts (continued)

196BCategory Group Definition Lead Generation Strategies

General Public

People you haven’t met and who don’t know you.

Implement Marketing and Prospecting activities from the two broad prospecting categories and the eleven broad marketing categories. Refer to the list on pg. X76 X.

Haven’t Met

Target Group

People you haven’t met and don’t know. It differs from the General Public in that you have targeted them as people with whom you’d specifically like to do business.

Implement a very specific marketing campaign to this group. Utilize the 12 Direct strategy.

Network Group

Individuals who know you because you have met them either in person or by phone. Might do business with you.

Launch a tighter; more directed marketing campaign in hopes of building a strong relationship and generating more business per person than from the Target Group. Utilize the 8 x 8 and 33 Touch strategies.

Allied Resources

A very select subset of your Met Group who are in real estate related fields. Individuals you expect either to do business with or to receive business leads from every year—usually, multiple times. Can and/or have done business with you.

Market to them in the same manner as your Network Group. In addition, meet with them one-on-one for a meal, a visit, or a party several times a year.

Advocates

People who not only have done business with you in the past and will continue to do so in the future, but will actively bring other people to you to do business, as well.

Market to them in the same manner as your Allied Resources. Some (the most influential) you would see as often as once a month.

Met

Core Advocates

Not only can and will do business with you, but they are well placed—owner of a sports team, executive at a large corporation, a builder, etc.—and will send you a steady stream of clients.

Market to them in the same manner as your Advocates. In addition, you should be providing some sort of service to them that improves their business as they are referring people to you to increase your business.




50BBuild a Database Grouping Your Contacts (continued)

251BThe Strategic Model for Generating Leads and Building Relationships

The diagram below represents the strategy for progressively moving contacts into the inner circles of your Met Group. The numbers represent the database of a ”Net a Million” agent

Truth A millionaire real estate agent’s overall strategy is always

designed to generate leads and move people into their inner circle.

Prospecting and Marketing

General Public Haven’t Met Group

Target Group Haven’t Met Group

Network Met Group

Allied Resources

Advocates

Core Advocates

5 50 100 1,765 16,000 At large

8 x 8 33 Touch

12 Direct

1 on 1

HAVEN’T MET

MET

MET

(Inner Circles)



9BFeed It Every Day 197BGrowing Your Database

252BAdding Contacts

Once you have your database set up in a CMS, you will need to put several processes in place to maintain and utilize it. The first of these processes is to systematize the way in which you feed your database. Since you will need a large number of contacts to generate millionaire-level production, your team will utilize prospecting and marketing to feed new contacts into your database daily.

325BWhen to enter contacts

Team members should enter new contacts into the CMS any time:

1. A prospective customer calls looking to buy or sell a home.

2. They meet anyone who is a potential client, Allied Resource, Advocate, etc.

For new contacts who are in the process of completing a real estate transaction with the team, use the completed Seller Interview or Buyer Interview forms (see MREA: Operations Manual) to add the contacts information into the database initially. Update the contact’s information with personal information (birthdays, hobbies, etc.) from the VIP Questionnaire (see MREA: Operations Manual). For new contacts who are not in the process of completing a transaction with the team, enter their pertinent information into the CMS as soon as possible after meeting them.

If you are using a CMS to maintain your database, once you have your database set up with all of the appropriate fields defined, you just have to enter the information for all of your contacts and place them on automated plans (see “Chapter 3: Working Your Database”) that generate activities. The software will automatically generate a list of contacts that must be touched everyday for you and your team, and it will tell you how and why you are contacting them.




51BFeed It Every Day Growing Your Database (continued)

326BGrowing your inner circles

As you build your team, you will hand off guardianship of some of your database (FSBO’s, Expired, Geographic Farm, etc.) to your team. Your team will be responsible for finding new contacts, adding them to the database, putting them on the appropriate plans, placing them in the correct categories and groups, and maintaining their file with detailed notes.

However, until you are ready to step out of the business, maintaining your Inner Circles (Allied Resources, Advocates, and Core Advocates) is your responsibility. As the Mega Agent leader for your team, you will be the one to find, build, and maintain these relationships. You are the Rainmaker!

Exercise

Who inhabits your inner circles?

Directions:

1. The inner circles of your Met database are made up of those people who will refer business to you.

2. Look back at the definitions for each of your inner circles. For each of your inner circles write down 5 names that come to mind in the chart on the following page.

Time: 15 minutes




52BFeed It Every Day Growing Your Database (continued)

327BYour inner circles

Advocates

(50)

Allied Resources

(100)

Core

Advocates

(5)



53BMy Scorecard

We have reached the end of this chapter! Before we move on, take five minutes to assess your mastery of this chapter's objectives.

1. Refer to the My Scorecard sheet located at the back of this manual.



Time: 5 minutes



54BKW Team Feud

Exercise

Directions:

1. The class will be divided into two equal groups. Each side will choose a representative for the initial question of a new category. The representative from each side will then join the instructor at the front of the room for the question.

2. The first representative to provide a correct answer to the question wins the opportunity for their team to guess the other possible answers to the question. The team must give all possible answers without answering incorrectly. After an incorrect answer, the question goes to the opposing team. If they provide the remaining correct answers, they win. However, if they give an incorrect answer, the first team wins.

This is a closed book exercise.

Time: 20 minutes

Working Your Database Chapter 3



Chapter 3: Working Your

Database


[1] Systematically market to your database using the 12 Direct, 8 x 8, and 33 Touch programs. [2] Use your contact management software to

develop systems to service all of your leads.



10BCommunicate with It in a Systematic Way 198BPlans

Truth Real estate sales is a contact sport.

Real estate sales is a close contact sport.

Real estate sales is a frequent and systematic close contact sport.

253BThree Approaches

Systematizing your marketing and prospecting approach to your database is essential given the large number of contacts that you must have and the fact that you will market differently to the various groups that you create within your database. Creating plans within your database allows you to quickly place various groups on a predetermined marketing or prospecting schedule. Plans are to-do lists launched in your CMS that remind you how and when to communicate with your contacts. There are three plan categories for marketing and prospecting to your Met and Haven’t Met databases:

1. 12 Direct

2. 8 x 8

3. 33 Touch

Truth All three have a common theme: Overkill Overtime.

Why? Because no matter how much frequent and systematic lead generation is emphasized, most real estate agents still tend to

underdo it.




55BCommunicate with It in a Systematic Way Plans (continued)

254BThe Lead Generation Database Flow Model





56BCommunicate with It in a Systematic Way

199B12 Direct

12 Direct is a systematized method of working the Haven’t Met portion of your database. It stands for twelve direct mail marketing pieces mailed out annually (one per month—every month).

1. Your Haven’t Met database includes your mailing lists for farm areas and/or any other demographic groups.

2. Considering the time involved and the work that can be delegated, there is no question that this is a highly leveraged form of lead generation to the masses. In the same amount of time you would work a handful of names in your Met contact database, you can shape a marketing message that can be sent to thousands in your Haven’t Met database.

3. To save time and money, plan and set up each twelve-month campaign all at once at the beginning of the year; then it can go on automatic pilot for the year.

328BThe Research

Marketing to your Haven’t Met contact database is generally the most time-effective form of lead generation.

However, for every fifty unmet people you market yourself to twelve times a year, you can reasonably expect to generate only one sale.

At a 50:1 ratio, you’ll have to have 2,500 people in your database to consistently hit an annual goal of 50 closed sales. Amassing a database of 2,500 people in your market might seem difficult and expensive, but it isn’t. However, it will take some focused effort and time devoted to getting the names and planning your 12 Direct marketing campaigns.

You can find local providers for these names and addresses but you will usually need to pay for them. In some cases title or escrow companies may provide these to you as part of their service. Be sure to ask them.




57BCommunicate with It in a Systematic Way 12 Direct (continued)

329BGoal

The goal of 12 Direct is to generate customers from your Haven’t Met database and move them into your Met Database.

255BDesigning Your 12 Direct Program

In order to design your 12 Direct program, you will need to:

1. Determine if you are going to plan your annual 12 Direct program all at once (highly time-leveraged) or if you will develop your direct mail pieces on a monthly basis.

2. Block out the appropriate amount of time to work on your 12 Direct program. Time needed will vary depending on what marketing pieces you choose to use and whether or not you will set the program up all at once.

3. Determine how much of your 12 Direct program will be outsourced. While you will design your own direct mail pieces (see “Chapter 4: Marketing-based, Prospecting-enhanced – Focus”), you may choose to outsource the production and distribution to a qualified vendor (for a list of pre-approved vendors, go to the Marketing page of the KW Intranet). Or you may choose to outsource the entire process.

4. Determine how to get your Allied Resources to co-sponsor the marketing material to help with the cost. For example, they could help sponsor your newsletters or calendars in exchange for giving them advertising space on the piece.

5. Obtain a mailing list for your Target Group, which includes your geographic farm.




58BCommunicate with It in a Systematic Way 12 Direct (continued)

Exercise

What might you send?

Directions:

Take a look at the sample marketing pieces in the Appendix to get some ideas about what sort of marketing pieces you might send as part of your 12 Direct. Use the table below to document everyone’s responses as your instructor leads this group brainstorm.

Time: 15 minutes

Marketing Piece Vendor or Team Member

What will they do




200B8 x 8 The 8 x 8 is a high-impact, high-saturation technique that is designed to put you in the Number One position in the minds of everyone in your contact database within an eight-week period. Use the 8 x 8 to jump-start your 33 Touch and establish a relationship that can be sustained and grown.

256BBasic 8 x 8 Plan

1. Set aside a specific time for the next eight weeks to make contact with all of the prospects, customers, and past customers in your contact database.

Week 1 Drop off a letter of introduction, your personal brochure, a market report, and your business card.

Week 2 Send a postcard, inspirational card, community calendar, UorU market statistics.

Week 3 Send a postcard, inspirational card, community calendar, UorU market statistics.

Week 4 Make a telephone call:

“Hello, this is __________ with the ______ team. Did I catch you at a bad time? How are you? Did you happen to receive the __________? Have you had a chance to look at it? The reason I’m calling is to find out if you happen to know of anyone who might be buying or selling their home...”

Week 5 Send one of your free reports.

Week 6 Send a real estate investment or house maintenance tip.

Week 7 Send a refrigerator magnet, notepad, or other usable giveaway (not throwaway!) with your name, logo, and contact information on it.

Week 8 Make another telephone call:

“Hello, this is __________ with the ______ team. Did I catch you at a bad time? How are you? Did you happen to receive the __________ that I sent you? That’s great. Did you have any questions? As you can tell, I really hope you will allow me to be your Realtor® for life. And also, let me just give you a quick reminder that if you happen know of anyone who might be buying or selling their home, could you please share their name with me or my name with them…”

Every single touch should have a quick

reminder and

instructions on how to give you referral

business.




60BCommunicate with It in a Systematic Way 8 x 8 (continued)

2. Schedule mailings before your calls. The benefit of making contact by mail is that it makes it easier for you to call (or drop by) and say, “Hello this is __________ from Keller Williams Realty. Did you receive the ______ I sent you?” and break the ice.

3. In your CMS, enter the days from plan launch for each of your various mail-outs and telephone calls in your 8 x 8 plans. Also, assign 8 x 8 tasks to appropriate team members. Your CMS will then remind you and your team members when different tasks in your 8 x 8 plans come due for your contacts.

4. Modify the 8 x 8 to work for you. The point is for you to be systematic as you make contact for the next eight weeks so that you quickly become Number One in the minds of everyone in your contact database. It is better for you to modify this technique so that it works for you, rather than not doing it at all or doing it haphazardly. Here are some ideas:

Instead of six mail-outs and two telephone calls, do four mail-outs and four telephone calls.

Instead of doing eight weeks, do twelve weeks (but never less than eight).

____________________________________________________

____________________________________________________

5. Once they’ve completed their 8 x 8 program, move the new contacts into the appropriate group of your Met database and include them in your ongoing 33 Touch program.

NOTE: Each time a contact is touched, take notes on what was said. Enter these notes into your contact management software. When you call next time, you’ll be able to ask them relevant questions about their lives (e.g., “How did your daughter’s recital go?”), which strengthens the relationship.





257BCustomized 8 x 8 Plans

1. Along with your basic 8 x 8, you should have different versions of the 8 x 8 for various target groups (such as a FSBO version) to jump-start your 33 Touch. Having a more targeted message will greatly enhance the effectiveness of your lead generation. From the list of sources below, put a check next to the ones for which you will develop customized 8 x 8 plans:

FSBO’s (remember, FSBO’s require more face time)

Expired/Withdrawn Listings (remember, these people may re-list quickly—this 8 x 8 will be 8-16 days, not 8 weeks)

Follow-up for Prospective Buyers

Follow-up for Prospective Sellers

My Geographic Farm (to re-launch it)

My Demographic Farm(s) (to re-launch it)

My Sphere of Influence (to re-launch it)

People who attend my Open Houses

My Allied Resources

Relocations

Builders

My IVR System captures

Other: ___________________________

Regardless of other plans you may choose to include in your CMS, these are must have plans.

2. When team members enter new contacts in the CMS, the contacts should be placed on an appropriate 8 x 8 plan.





330B8 x 8: FSBO

Below is a sample 8 x 8: FSBO plan for sellers who are trying to do a For Sale by Owner:

1. One of the key items of value you will provide to a For Sale by Owner is the FSBO Packet.

Week 1 Call to schedule preview. Preview property and leave FSBO Packet.

Week 2 Send “How to Avoid the Five Deadly Mistakes When Selling Your Home: Mistake #1—Pricing the Home Incorrectly” card.

Week 3 Send “How to Avoid the Five Deadly Mistakes When Selling Your Home: Mistake #2—Failing to Showcase Your Home” card.


“Hello, this is __________ with the _______ team. Did I catch you at a bad time? I have a client under a buyer representation agreement who has seen your house while driving by, and asked me to call about it...”

Week 5 Send “How to Avoid the Five Deadly Mistakes When Selling Your Home: Mistake #3—Using a Hard Sell during Showings” card.

Week 6 Send “How to Avoid the Five Deadly Mistakes When Selling Your Home: Mistake #4—Not Heeding Showing Feedback” card.

Week 7 Send “How to Avoid the Five Deadly Mistakes When Selling Your Home: Mistake #5—Thinking Open Houses and Newspaper Ads Will Sell Your Home” card.

Week 8

Make another telephone call:

“Hello, this is __________ with the _______ team. Did I catch you at a bad time? I like to keep track of all available homes in my market area. I was wondering: if you don’t get the home sold on your own, how soon before you consider listing with a powerful agent like myself to sell your home…”


reminder and


business.





331B8 x 8: Expired/Withdrawn Listings

On the following page is a sample 8 x 8 plan for an Expired/Withdrawn Listing.

1. You will notice that the 8 x 8 plan for an Expired/Withdrawn Listing occurs in days, not weeks. Thirty to fifty percent of all Expired/Withdrawn Listings will re-list within one week of expiration. Seventy to eighty percent will re-list within thirty days. So, it is critical with an Expired/Withdrawn listing that you make contact quickly and frequently within the first two weeks.

2. While the plan is numbered “day 1”, “day 2”, “day 3”, etc., not all days occur consecutively. Your goal should be to complete the entire plan within 2 weeks. However, you don’t won’t to overwhelm the seller or seem pushy, so you should allow a day or two between contacts.

3. One of the key items of value you will provide these sellers is the Expired Packet.





Day 1 Hand-deliver Expired Packet.

Day 2 Make a telephone call: “Hello, this is __________ with the _______ team. Did I catch you at a bad time? We’re __________ county’s number one Realtor® in properties sold. We specialize in homes that should have sold but didn’t. We noticed that your home did not sell in the marketplace and wondered if you folks were still interested in selling....”

Day 3 Send “Your home didn’t sell? Did your Realtor® offer: ____________?” card.

Day 4 Make another telephone call: “Hi, this is _________ from Keller Williams Realty, following up on our conversation from last week. Have you given any more thought to putting your house back on the market…?”

Day 5 Send market statistic or special report.

Day 6 Make another follow-up telephone call.

Day 7 Send “24/7 Talking Ads” card, Just Listed/Just Sold card, or some other card that highlights your marketing ability.

Day 8

Make another telephone call: “Hello, this is __________ with the _______ team. Did I catch you at a bad time? I was going through some old files and noticed that your home had been for sale for ___ months and I was wondering—If I had a buyer that was interested in seeing your home, would you still consider making a move?…”


reminder and


business.





332B8 x 8: Follow-up for Prospective Buyers

If the buyer does not sign a Buyer Representation Agreement with the team after the Buyer Consultation, you will want to put them through an 8 x 8 designed to show them the value of working with your team. This is also a good plan to use for buyers you meet at open houses that don’t want to set up an appointment for a consultation. Your marketing focus should be directed towards materials that educate the buyer on what’s happening in the market.

Week 1 Send a Handwritten “Nice to Meet You” letter, along with a market report and your business card.

Week 2 Send a market statistics.



“Hello, this is __________ with the _______ team. Did I catch you at a bad time? I just wanted to check in and find out what questions about buying finding your dream home I can help you with….”




Week 8


“Hello, this is __________ with the _______ team. Did I catch you at a bad time? How are you? Did you happen to receive the __________ that I sent you? That’s great. Did you have any questions? As you can tell, I really hope you will allow me to be your Realtor® for life. And also, let me just give you a quick reminder that if you happen know of anyone who might be buying or selling their home, could you please share their name with me or my name with them…”


reminder and


business.







333B8 x 8: Follow-up for Prospective Sellers

If the seller does not list with the team after the Listing Consultation, you will want to put them through an 8 x 8 designed to show them the value of working with your team. Your marketing focus should be directed towards materials that educate the seller on what’s happening in the market.

Week 1 Send a Handwritten “Nice to Meet You” letter, along with a market report and your business card.




“Hello, this is __________ from Keller Williams Realty. Did I catch you at a bad time? How are you? Did you happen to receive the __________? Have you had a chance to look at it? I just wanted to check in and see how your home selling efforts are going...”




Week 8


“Hello, this is __________ with the _______ team. Did I catch you at a bad time? How are you? Did you happen to receive the __________ that I sent you? That’s great. Did you have any questions? As you can tell, I really hope you will allow me to be your Realtor® for life. And also, let me just give you a quick reminder that if you happen know of anyone who might be buying or selling their home, could you please share their name with me or my name with them…”


reminder and


business.





Exercise

Customizing targeted 8 x 8 plans.

Directions:

1. Get into groups of four to five. Your instructor will assign each group a specific type of 8 by8 plan to customize. Use the blank chart on the following plan to mock up which activities would best target the audience of your 8 x 8. When you are finished, record your plan on the flipchart paper.

2. When the groups are finished, share your results as a class. In the back of the manual is a handout with blank 8 x 8 plans that you may use to record ideas from other groups on customized 8 x 8.

Time: 15 minutes







334B8 x 8: ______________________________

Week # I will make contact by:

I will include this creative and quick reminder and

instructions* on how to give me referral business:

1

2

3

4

5

6

7

8

Ongoing Implement your 33 Touch.

* For example: a sticker on the outside of an envelope, a bold graphic in my newsletter, photographs of people who have referred customers to me in my newsletter, a reminder at the end of a telephone call, etc.




201B33 Touch

When a contact finishes their 8 x 8 plan, they should be placed on an appropriate 33 Touch plan. 33 Touch is a systematic marketing and prospecting technique, which ensures year-round contact with all of the prospects, business contacts, and past clients in your contact database. It cements your relationship with the contacts in your database and sustains ongoing communication.

258BBasic 33 Touch Plan

1. Set aside a specific time each week to make contact with your prospects. In one year, you will have made contact by:

14 A combination of fourteen mailings, letters, cards, e-mails, or drop-offs (which might include your business card) and may be one of the following: letter of introduction, your personal brochure, market reports, Just Sold/Just Listed cards, your personal newsletter, recipe cards, property alerts, real estate news or articles, community calendars, invitations, service directories, promotional items, etc.

8 Thank You or Thinking of You cards

3 Telephone calls

4 Personal Observance Cards (birthdays, anniversaries, mother’s day, father’s day, graduation, anniversary of their home purchase, etc.)

4 Holidays (Thanksgiving, Fourth of July, etc.)

33 Touches Total

Every single touch should have a quick reminder and instructions on how to give you referral business and identify the benefits of working with your team.




69BCommunicate with It in a Systematic Way 33 Touch (continued)

2. Schedule mailings before your calls. The benefit of making contact by mail is that it makes it easier for you to call (or drop by) and say, “Hello this is __________ from Keller Williams Realty. Did you receive the ______ I sent you?” and break the ice.

3. In your CMS, enter the days from plan launch for each of your various mail-outs and telephone calls in your 33 Touch plans. Also, assign 33 Touch tasks to appropriate team members. Your CMS will then remind you and your team members when different tasks in your 33 Touch plans come due for your contacts.

4. Modify the 33 Touch to work for you. The point is for you to be systematic as you make regular contact throughout the year. It is better for you to modify this technique so that it works for you, rather than not doing it at all or doing it haphazardly. But remember, frequency matters—the more the better. Here are some ideas:

Instead of doing 33 touches, do 24 touches.

Instead of sending Mother’s and Father’s Day cards, send recipes or market statistics.

Instead of a quarterly newsletter, do a monthly newsletter (amounting to 12 mail-outs).

____________________________________________________

____________________________________________________

NOTE: Each time a contact is touched, take notes on what was said. Enter these notes in your contact management software. When you call next time, you’ll be able to ask them relevant questions about their lives (e.g., “How did your daughter’s recital go?”), which strengthens the relationship.





335BThe Research

Marketing to your Met contact database is generally the most cost-effective form of lead generation. For every twelve people in your Met contact database to whom you market yourself thirty-three times (33 Touch), you can reasonably expect to net two sales. One of the sales will likely be repeat business; the other, referral business.

Using a conversion rate of 12:2, if you wanted to make 50 sales a year, you’d need to have 300 people in your Met database who you had sent through your 8 x 8 program and who were moved into your 33 Touch program. This ratio, while you may not achieve it immediately, is easily attained incrementally over time, as you hone your marketing program.





259BCustomized 33 Touch Plans

1. Now that you have a basic 33 Touch plan, create different versions for your various groups. Having a more targeted message will greatly enhance the effectiveness of your lead generation. From the list of sources below, put a check next to the ones for which you will develop customized 33 Touch plans:

Client for Life

Advocate Appreciation Program

My Sphere of Influence

My Allied Resources

Other: ___________________________

Regardless of other plans you may choose to include in your CMS, these are must have plans.

2. When contacts finish their plan or refer business, they should be placed on an appropriate 33 Touch plan.





336B33 Touch: Client for Life

Below is a sample 33 Touch: Client for Life plan for past clients in your Sphere of Influence:

1. Clients who do business with the team should be placed on the 33 Touch: Client for Life plan.

2. If a contact is currently on an 8 x 8 plan or the 33 Touch: General plan, cancel that plan and place them on the 33 Touch: Client for Life plan as soon as the transaction is complete.

3. If a contact is currently on the 33 Touch: Advocate Appreciation plan, do not change them to the Client for Life plan. Leave them on the Advocate Appreciation plan.

12 Newsletters.

7 Holiday cards. If you throw an annual Client Appreciation Party, you might send the invitation along with one of the holiday cards.

5 Telephone calls. You should be touching in (‘How are you?’) and asking for referrals (‘Who do you know?’).

3 ‘Great Talking to You’ letter. Occasionally, you will want to follow up your phone calls with a letter.


2 Usable give-aways such as a magnetic calendar or notepad cube.

33 Touches Total






337B33 Touch: Advocate Appreciation

Below is a sample 33 Touch: Advocate Appreciation plan for those clients who have or will refer business to you. This plan mirrors your 33 Touch: Clients for Life plan; however, you will include items of value to show your appreciation.

1. The Advocate Appreciation plan should be used for those clients in your inner circle who either have referred business to you or have committed to referring future business (Allied Resources, Advocates, and Core Advocates).

2. Items of Value include such things as School calendars, New Year calendars, Baseball or Football schedules for their favorite team, or Inspirational cards. To save time and money, plan and budget for your items of value prior to the beginning of the year.

3. If a contact is currently on an 8 x 8 plan or another 33 Touch plan, cancel that plan and place them on the 33 Touch: Advocate Appreciation plan as soon as they refer or pledge to refer business.

12 Newsletters. Send a monthly newsletter. Include items of value such as a School calendar, New Year calendar, Football schedule or Inspirational items.

7 Holiday cards. If you throw an annual Client Appreciation Party, you might send the invitation along with one of the holiday cards.

5 Telephone calls. You should be touching in (‘How are you?’) and asking for referrals (‘Who do you know?’).

3 ‘Great Talking to You’ letter. Occasionally, you will want to follow up your phone calls with a letter.


2 Usable give-aways such as a magnetic calendar or notepad cube.

33 Touches Total






Exercise

Customizing targeted 33 Touch plans.

Directions:

1. Get into groups of four to five. Your instructor will assign each group a specific type of 33 Touch plan to customize. Use the blank chart on the following plan to mock up which activities would best target the audience of your 33 Touch. When you are finished, record your plan on the flipchart paper.

2. When the groups are finished, share your results as a class. In the back of the manual is a handout with blank 33 Touch plans that you may use to record ideas from other groups on customized 33 Touch.

Time: 15 minutes







338B33 Touch: __________________________

Qty.

Over the course of one year, I will make these

touches:

I will include this creative and quick reminder and

instructions* on how to give me referral business:

33 Total Touches

* For example: a sticker on the outside of an envelope, a bold graphic in my newsletter, photographs of people who have referred customers to me in my newsletter, a reminder at the end of a telephone call, etc.





202BBringing Value to the Relationship

Exercise

For your 12 Direct, 8 x 8, and 33 Touch plans, what are some items of value you can send your contacts?

Directions:

Use the table below to document everyone’s responses as your instructor leads this mini-needs analysis.

Time: 10 minutes

Investment tips Top college reports



11BService all the Leads that Come Your Way 203BLead Management

260BGet on the F.A.S.T. Track

Careful attention to lead tracking and conversion is one of the core disciplines of the millionaire agent. To do this effectively, you need processes that capture leads and track their progress through your team.

Lead management at the millionaire level is a key component of lead generation that requires leverage. By tracking leads that come in, you can ensure that those leads are being serviced correctly. Properly managing your leads will also help you determine what prospecting and marketing activities work for you and who is sending you business. And by tracking referrals, you can better reward those who have helped you grow your business and ensure that they will continue to send you clients.

Get on the lead management F.A.S.T. track:

339BFunnel

All leads must get funneled to one number, one email, and one person for the team. They must then be captured (name, address, phone number, and real estate needs) by someone on the team.

340BAssign

All leads must be assigned to specific members of the team who will be responsible for following up and servicing the lead to take it to a closed transaction.

341BSource

All leads must be sourced to determine where they came from. You should always all ask clients the following question: “How did you hear about the _________ team?” In addition, ask them again after the transaction in your client survey to verify the source.




77BService all the Leads that Come Your Way Lead Management (continued)

342BTrack

All leads must be tracked to determine conversion rates and whether the responsible team members are following up on the leads properly. You must also track leads to determine which lead sources are most effective at bringing in leads that convert to business for the team.

Truth Lead management is the number one

visibility issue in your office.

Put this on your wallboards or in your CMS, so team members are able to readily see who is assigned to what leads and where they

are in the process.



© 2004 V3.2 KELLER WILLIAMS REALTY, INC. 69


Lead management processes

Step What system do you use for this?

How can you improve the system?

Who is responsible for this step now?*

Questions that must be answered and documented

Lead is Captured

Who is the lead? How do we contact him/her? What is their interest (buyer, seller, etc.)?

Lead is Sourced Where did the lead come from? What will we do with this specific source?

Lead is Assigned

Who will follow up on the lead? When will they follow up on the lead?

Lead is Stored and Tracked

Where can we find the lead in the database? Do we know what has happened with

follow-up What is the next step and who is

responsible?

* It is your responsibility to oversee these processes and follow up to make sure that the lead is serviced properly.





Truth The engine that drives these processes is your contact

management software.

343BBenefits

Having a lead management system/process in place allows you to do the following:

1. Effectively train and consult with your staff on lead conversion.

2. More easily set performance standards and hold your team members accountable to them.

3. Know exactly what is happening in your business—who is getting the job done and who is not. When the numbers are always in the open, it is much harder to hide behind excuses.

344BIs Your Desk on Fire?

In a consulting call between Gary Keller and an agent, the agent expressed the fact that she didn’t have the time to follow up on all the leads that were coming in. She said that she had stacks of notes and lead sheets on her desk filled with names of people who had called. Gary suggested that she imagine those stacks as piles of money that were burning. It was her money in those piles, and she had just lit them with a match. The agent immediately got the picture, hired two buyer specialists, and had her Marketing and Administrative Manager put in place a lead-tracking and conversion system.

When you have a team, your job as the Mega Agent on your team is to make the phone ring. Once it does, your team should be fielding the leads and putting them through a series of systems that ensure that every lead is handled properly. And it is their job to document those systems so that they are duplicatable, formalized standards that everyone can be held accountable to.





Exercise

Lead management systems

Directions:

Answer the questions below as a class.

Time: 5 minutes

1. Once you put lead management systems in place, what does your job then become?

2. How will you effectively train your staff on using the system? When?

3. How will you hold them accountable to your standards?



81BMy Scorecard

Exercise

Directions:




Time: 5 minutes



82BAha! Accountability

Exercise

Directions:

1. Think about what you have just learned that will help you to set up and work your database.

2. Get with a partner. Each of you will take turns acting as an Aha! consultant. Use the following questions to consult your partner about their Aha!.

3. Document your own responses.

Time: 10 minutes

345B1. What was your Aha!?

346B2. What is the need in your business that makes this such a revelation?

347B3. How will this change your business?

348B4. What do you need to do?

349B5. Do you know how to do it?

Marketing-based, Prospecting-enhanced Chapter 4



Chapter 4: Marketing-based,

Prospecting-enhanced


[1] Understand the MREA Lead Generation Strategy. [2] Present clear, cohesive and consistent image

and a powerful message. [3] Focus on seller listings to increase your number

of leads. [4] Recognize how diversifying your marketing and

prospecting efforts ensures stability.



12BMREA Lead Generation Strategy 204BYour Lead Generation Program

Exercise

Directions:

1. Look at the chart on the following page.

2. Think about your current lead generation strategies, and check all of the methods that you are currently using in your business.

Time: 10 minutes




83BMREA Lead Generation Strategy Your Lead Generation Program (continued)

Prospecting

205B(Proactive and Direct)

Marketing

(Proactive and Indirect)

1. Telemarketing FSBO (For Sale by Owner) Expireds Just Solds Just Listeds Past Clients Allied Resources Geographic Farm Area Apartments Corporations Builders Banks Third-Party Companies Sphere of Influence

2. Face-to-Face Door-to-Door Canvassing Open Houses Client Parties Networking Events Allied Resources Social Functions and Community Events Seminars Booths at Events Teaching and Speaking Opportunities Personal Meetings (meals, pop-bys, etc.)

1. Advertising

Newspapers Personal Vehicles Radio Magazines Bus Stop Benches

Billboards Yellow Pages Television Grocery Carts Moving Vans

2. Promotional Items (Magnets, Calendars, etc.)

3. Internet Websites

4. Direct Mail

Postcard Campaigns Newsletter Campaigns Just Sold/Just Listed Cards Special Events Cards Quarterly Market Updates

5. IVR and Computer Retrieval programs

6. Broadcast

Voice E-mail Fax

7. Signs/Directional Signs/Brochure Boxes

8. Name Badges/Logo Shirts/Car Signs

9. News Releases/Advice Columns

10. Farming

Geographic Demographic

11. Sponsorship

Little League Charities

Community Events





84BMREA Lead Generation Strategy

206BThe Same Things Done Differently

Question What’s the difference between the marketing and

prospecting categories of millionaire agents and other agents?

Answer Nothing. The options are the same.

The categories do not change; it is the way in which they are approached that changes.

There are six main differences about the way in which millionaire agents approach marketing and prospecting:

1. Clarity of Message

2. Focus

3. Diversity

4. Referrals*

5. Analysis**

6. Quantity**

* Referrals will be discussed further in “Chapter 5: Millionaire Referral Systems.” **Analysis and Quantity will be discussed further in “Chapter 6: Knowing Your Numbers.”



13BClarity of Message 207BBranding Your Business

As we saw earlier, in addition to creating a reputation, your marketing efforts should be aimed at getting you into that number one position for real estate in the mind share of your contacts. One of the keys to accomplishing this is repetition. Getting your message in front of your target audience as much as possible will ensure that it hits home with the necessary quantity.

This is where the issue of branding comes into play. Part of repetition is presenting a clear, cohesive, and consistent image to your contacts. If your marketing look is constantly changing, it will reduce the effectiveness of your message. When creating an image for your business, begin with a consistent brand, and then, develop a powerful marketing message around that.

350BImportance of branding

The importance of branding should not be overlooked:

1. Separates you from competition

2. Supports referrals

3. Increases in-bound calls

351BElements of a brand

The components of your brand all add up to your perceived image in the market place. Some components are intuitive, but some may surprise you.

These are the mandatory elements of your brand

1. Your business name

2. Your photo

3. Font usage

4. Your slogo/motto* (centered around a powerful USP; see “Focus”)

*For a refresher on creating a slogan, see “Communicating Your Message: Creating Your Slogan” in the Appendix.




85BClarity of Message Branding Your Business (continued)

5. Your phone number

6. Your domain name

7. Your email address

And here are other ways to brand your business:

8. How many numbers you list on your card

9. How you answer the phone

10. Your style of dress

11. Your car

12. Your use of technology

13. Your website (content and look)

14. Level of service/efficiency

15. Your accessibility

16. The area you work in

17. How you stage an open house

18. Quality of property marketing materials

19. Direct mail frequency

20. Direct mail quality

21. Advertising quality/frequency

22. Signage

23. Your pre-list packet and other communication materials

24. Your involvement in the community

25. Your knowledge of the area and trends in the business

26. ________________________________________

27. ________________________________________

28. ________________________________________

29. ________________________________________

30. ________________________________________




86BClarity of Message Branding Your Business (continued)

261BPromoting your brand

Once you have your business clearly branded, you’ll want to make sure that all of your marketing and communications to your customer base features that brand. This means that the following should be branded:

1. Email signatures

2. Sign riders

3. Websites

4. Team logo shirts

5. Ads

6. Business cards

7. IVR listings

8. Voicemails

9. Direct mail

10. ______________________________

11. ______________________________

12. ______________________________

13. ______________________________

14. ______________________________

15. ______________________________



87BClarity of Message

208BCrafting the Message

352BTwo Big Words

To be a master of marketing, you must be able to effectively aim your marketing at specific targets and hit those targets with messages that have two important characteristics:

1. Memorability

Most people could readily tell you that Coke is “The Real Thing” or that Nike wants them to “Just Do it.” That’s because these brands deliver their marketing message in a memorable way—through catchy jingles in the case of Coke or association with famous athletes in the case of Nike.

2. Persuasiveness

Recognition by consumers is a means, not the end. Once they recognize you as a brand, they must be persuaded that your brand is the one they want. Successful brands have used comparisons to their competition, guarantees, and other tactics to persuade consumers that they are the brand of choice. They also make unique offers that make them standout, such as “If I can’t sell your home, I’ll buy it,” or “We’ll pay you $100 just to talk with us about selling your home.”

353BFundamental questions

The creation of such messages involves a disciplined thought process that forces you to focus on the fundamental questions of marketing:

1. Who is my target audience?

2. What do these people want to know?

3. What is my purpose? (this is usually one or more of the three R’s: Repeat, Referral, or Reputation)

4. What would make them act on my call to action?

5. What impression do I want to create in their minds?

6. What special offer can I make?

7. What tangible guarantee of specific service can I provide?




88BClarity of Message Crafting the Message (continued)

262BThe Four-H Club

After you have answered those fundamental questions, you can then set about crafting your message to them. Any marketing message that you create should focus on at least one of the marketing 4 H’s:

1. Head

Make them think by appealing to their intellect. This involves laying a case for yourself as the premiere Realtor® in your market by stating various facts (awards, statistics, etc.) that back up your claim.

2. Heart

Appeal to their emotions. Make sure that they understand that you care about them and their family and that you are the kind of Realtor® who will go that extra mile to make them happy. Think “friendly,” “caring,” committed.” Use inspirational stories, testimonials, and quotes.

3. Humor

Make them laugh. A humorous play on words (e.g., “Helping you make all the right moves”) can make your marketing message standout. You may even use cartoons or caricatures of yourself.

NOTE: Be sure your marketing pieces are funny and not offensive. 4. Hard

Give them an offer they can’t refuse. Offering a satisfaction guarantee (with some sort of reward for failure to make good), a guaranteed sale program, menu pricing, and other sorts of programs are good ways of making it hard for a lead to say no to you and your team.

Exercise

What are the H’s of these messages? Directions:

Look in the Appendix at some of the sample marketing messages beginning on pg. X172 X. As a class discuss which of the H’s each message addresses.

Time: 10 minutes




14BFocus 209BFocus on Seller Listings

263BAdvantages of Focusing on Seller Listings

Truth Millionaire agents build their entire lead generation model

around generating seller listings.

If there is a creative angle to your lead generation program you’ll want to pursue, it is to create your message, image, and methods

such that they are conducive to generating seller listing leads.

Research shows that if your lead generation program consistently delivers seller listings, you can count on the marketing of those seller listings to deliver buyer leads.

354B1. Economic advantage

Seller listings, as a cost of sale, are less expensive to obtain than buyer listings and sales. At a cost of sale of around $100,000 vs. $600,000 for the same volume of buyer sales, the millionaire agent realizes a $500,000 cost savings.

355B2. Lead generation advantage

Properly marketing seller listings not only begets a 2 for 1 (1 seller = 1 buyer) but also begets more seller listings. Until a way is invented to effectively market buyers so sellers contact us, marketing the seller has a huge leverage advantage for the real estate agent.




89BFocus Focus on Seller Listings (continued)

264BThe Natural Balance of Seller and Buyer Listings The following chart is a summary of a study conducted by Keller Williams Realty International using data collected from more than 10,000 agents. It illustrates that, as an agent’s business grows, their percentage of listings grows, as well. While natural balance is achieved at about a quarter million in GCI, beyond that point, the number of buyer listings sold largely depends on the goals and priorities of the agents. They now have the option to convert more and more buyer leads (from their listings) into additional closed business. Some MREA’s have even said that they can close two buyers for every seller listing they have.

GCI Seller Listings Sold

Buyer Listings Sold

$40K 4 6

$80K 8 11

$150K 15 16

$250K 25 25

$750K 64 56 Appears on page 150 of The Millionaire Real Estate Agent

Truth If you focus on seller listings, the buyers will come!

A properly marketed seller listing will consistently yield one or more buyer sales.





265BCommunicating a Powerful, “Seller-centric” USP

Your seller marketing message will center around a strong, seller-oriented unique selling proposition* (USP). When you market your team or your listings, the unique selling proposition (USP) that you communicate should always speak to the concerns of sellers.

356BHigher selling price

For many sellers, getting the most money for their home is their biggest motivating factor. You should be tracking both your percentage of asking price and the market average. Being able to deliver above market average percentage of asking price makes for a powerful marketing message.

Having a higher than average percentage of asking price begins with properly training your Listing Specialists. They must internalize the scripts and dialogues necessary to get overzealous sellers to price their home correctly before they put it on the market. Allowing your sellers to over price their homes when they list it with your team, only to come down in price later when reality sets in will ultimately hurt, not only your relationship with those sellers, but your value proposition to prospective sellers, as well.

357BFaster selling time

For other sellers, getting their home sold quickly outweighs getting it sold for the most money. This is why tracking your days on market and the market average is so important. If you have an average selling time that is better than the market average, make sure that you also include that in your marketing message.

Having fewer than average days on market is, in part, a training issue, as well. Again, your Listing Specialist must get the homes priced correctly. And they must also be able to properly consult your sellers on staging their homes before they put it on the market, so the home is at its best for any potential buyer.

* For a refresher on creating a USP, see “Communicating Your Message: Defining Your USP” in the Appendix.





Another part of having fewer days on market is marketing. You can greatly lower your average by instituting the Basic Fourteen-step Marketing Plan for Listings. These steps ensure, not only that you are bringing in sellers who choose you based on the fact that other sellers are listing with your team, but that your listings will sell quicker, as well. This becomes an even more powerful marketing message of selling homes in a fraction of the time your competition takes, which translates into even more listings.

358BMore value

Many sellers feel overwhelmed by the countless things that they must do to sell their homes. The time and energy spent finding the right people to help with their home service needs adds a lot of stress to the seller’s already-stressed life. That’s why it is vital to establish your team as a one-stop shop for all of a seller’s real estate needs. You must have an established circle of vendors that covers the gamut of real estate-related services. Your value proposition is that, from the consultation to the closing, your team will provide sellers with expert advice and a network of home service providers. Look at the chart on the following page.





The Top Ten Service Areas of the Seller Value Proposition

1. Needs Analysis

a. Help clarify the motivating reasons to sell.

b. Determine the seller’s timetable.

2. Pricing Strategy

a. Determine the best selling price strategy given the current market conditions.

b. Show resulting net sheet

3. Property Preparation

a. Advise on repairs and improvements

b. Provide staging strategies.

4. Marketing Strategy

a. Develop marketing plan.

b. Establish marketing timetable.

5. Receive an Offer

a. Evaluate offers

6. Negotiating to Sell

a. Negotiate counteroffers

b. Advise on final terms and conditions

7. Sell

a. Prepare post-contract work list

b. Advise on repairs and vendor services

8. Pre-close Preparation

a. Coordinate and supervise document preparation

b. Provide pre-closing consulting

9. Closing

a. Review closing documents

b. Resolve last-minute items

c. Complete transaction

10. Post-closing

a. Coordinate move

b. Assist with post-closing issues






Truth The concept of the buyer and seller being serviced by a team of individuals, instead of a single agent, has been in and out of fashion depending on whom you talk to in the industry.

Whether it is in or out of fashion, our experience has taught us that the best real estate service businesses employ sales teams with

specialized administrative and sales support.

266BThe Value Proposition of a Team

If your team knows what to do, they can deliver a higher standard of service—and do it more consistently—than you could as a single real estate agent who is forced to operate as a generalist. Your value proposition then becomes that of the surgeon who, surrounded by qualified specialists, is able to concentrate on the operation. Would you really want a surgeon who, in addition to performing the operation, handled your check-in at the reception desk, processed your insurance paperwork, and called you to remind you of your next visit?

Lawyers, doctors, and most professionals all tend to work from the belief that the best services are provided by a team of specialists led by the professional expert. What you and your team must communicate to your clients is that they can enjoy the highest possible level of professional service and attention from your team.

Everyone on your team must be able to effectively communicate your team’s value proposition. This means internalizing scripts and dialogues that convince the seller of the benefits of the team concept (see “We’re a Little Different: Explaining the Team Concept” in the MREA Scripts Catalog). Here is a sample of such a script:





“We’re a little different than most Realtors®. We take a counseling approach. Have you ever worked with a Realtor® like that? Let me explain my role on the team. I only represent sellers on the seller’s side of the transaction. Our sellers find it most helpful for them if we start the process of selling their home by having a counseling session in their home, so I can help you sell your home faster and for the most money possible. Does that sound good to you? This counseling session will take approximately an hour or more, depending on your questions, and during that session, we will need to go through some disclosures required by law. Can we do this during the day or are early evening hours better for you? Would ________ be okay, or is _________better for you?

Truth The ultimate goal is not simply to satisfy your clients’

expectations; rather your specialized team should focus on regularly “wowing” clients and generating the kind of word-of-mouth testimonials that drive a strong referral business.




95BFocus

210BConsistently Marketing Your Seller Listings for More Leads

Truth The primary reason many agents market a listing is to have

it sell for the best price in the right time frame.

Leveraging the marketing of your seller listings to generate buyer listings is sometimes forgotten in hot seller markets.

Greater Truth The marketing of listings should be seen as a lead

generation tool for more listings.

In order to meet your big financial goals, it is extremely important that your listing marketing brings in not only buyers, but other

seller leads, as well, which you then capture and follow up on in a systematic fashion.

359BYour marketing machine never rests

Your marketing system needs to protect you from your own “get-the-house-sold-as-quickly-as-possible” instincts. Implement the Basic Fourteen-Step Marketing Plan for Listings on every single listing. And make sure that you and your team follow it for every house you list, regardless of the market. Even if your marketing generates inquiries after the sale of the house, those leads can be captured, handed off to your Buyer Specialists, or redirected to your other listings.


Your job as the

Mega Agent on

your team is to

keep the phone

ringing.



96BFocus Consistently Marketing Your Seller Listings for More Leads (continued)

267BBasic Fourteen-Step Marketing Plan for Listings

Based on the statistics presented on pg. X84X, if you wanted to have 50 sales in one year, you’d need to develop a lead generation plan that delivers 25 salable and marketable seller listings and then effectively market them to bring in 25 buyers. And if you want to net a million with 320 closed sales, you’ll need to generate leads that deliver 160 sellers and 160 buyers. One of the best ways to do this is to follow the Basic Fourteen-Step Marketing Plan for Listings:

1. Staging and Pricing Strategies

2. For Sale Sign, Rider Signs, and Directional Signs

3. Tube or Box with Flyers and Distribution of Flyers in Neighborhood

4. Flyers in House/Home Book/Comment Cards

5. MLS

6. Web Listings with Virtual Tour (strategic placement on your site; put the IVR number for the listing in the property description field)

7. House Featured in “Marketing Vehicle” (calendar, etc.)

8. Open House Program

9. E-mail/Fax/Voice Broadcast (with your web address)

10. Track Showings/Collect Feedback

11. Target Marketing

12. Weekly Seller Updates

13. Property Caravans

14. Creative Marketing Ideas (10K, Cable show, etc.)


You should be

using all fourteen

steps to market

each and every

seller listing.




268BInteractive Voice Response Systems

One of the best technologies for marketing your listings is an Interactive Voice Response (IVR) system. These telephone systems allow you to record detailed voice descriptions about all of your listings that potential customers can listen to at any time.

The system assigns each listing a unique identifying phone number that you then place on all of your marketing materials for the property (sign riders, flyers, websites, etc.). When customers call to listen to the information about the property, their phone number is captured by the system and sent to the team via a pager. The system not only identifies the phone number of the lead, but it also tells you what property they originally called about.

Your Buyer Specialists can then call the lead immediately after their inquiry and use the IVR Calls scripts (see the MREA: Scripts Catalog – Lead Generation) to convert the lead into a buyer consultation. Below is a sample IVR script introduction:

“Good afternoon, this is _______ with the _______ Group at Keller Williams Realty. This is just a courtesy call. I noticed that you called on our listing at 123 Elm Street. I just wanted to know, did you get all the information you were looking for?...”

360BWhy you want this

1. Consumers are more apt to call a recording, because they don’t want to deal directly with a salesperson.

2. IVR leads are warm leads because:

a. You know that they are interested in buying a home.

b. You know what type of home they are interested in.

c. If the buyers are making sign calls, there is a good chance that they do not have a Realtor® yet.

3. It enhances your customer service, because it is available 24 hours a day, 7 days a week.

4. It improves your productivity.





5. Ten to twenty percent of those calls can be converted to a closed sale; an IVR system pays for itself after you close your first deal.

6. IVR systems catch important information that people often forget to ask (number, listing, and source).

7. It is a great tool to mention in your team’s listing presentation as a benefit to any potential seller. You can even demonstrate how it works.

361BAdvertising listings with IVR ads

You should include your listings’ IVR numbers in all of your team’s ads, websites, flyers, home magazines, email blasts, and other marketing vehicles for your listings. Include a brief explanation of how to use the systems, such as:

“Call our FREE, 24-Hour Talking-Ad Hotline For Information On This Property @ 1-800-555-1212. When prompted, enter the property's 5-digit code.”

362BRecording the talking ads

The recording for the listing should be placed on the IVR system as soon as the Listing Specialist hands in the paperwork form the listing consultation. To save time, you should have an IVR script template that you can simply plug information from any new listing into (for an example, see the Appendix).

It should be recorded by someone on your team with a pleasant voice who is clear and upbeat. The individual will need to get the details of the listing from the Advertising Copy sheet (see The MREA: Operations Manual).

The recordings should include:

1. Address

2. Town/City

3. Bed

4. Bath

5. Square feet (try to include source)





6. Featured amenities (e.g., pool, hardwood floor, marble counters, etc.)

7. School information

8. Neighborhood information

9. At the end of the recording, give the caller your team’s website URL and tell them that they can view multiple pictures of the property and others on your site.

NOTE: Do not include the pricing information in the recording. Some systems give consumers the option of pressing a key to find out the price of the property. This will transfer them to a live person in your office. Even if they do not press the key, not providing them the property price gives your Buyer Specialists the perfect conversation opener when they call back (i.e., “…did you get all of your questions answered?”).

363BTracking the calls

IVR’s offer reporting on call activity. This reporting will tell you which source of marketing (i.e., newspapers, magazines, etc.) are bringing in the leads and which aren’t. This is invaluable to holding your marketing dollars accountable.

364BCall-backs

Your IVR system will send the calls to your Lead Coordinator or a pager. The pager can be monitored by the Buyer Specialist with floor-time. The Buyer Specialist will call the buyer back and use the IVR scripts (see MREA: Scripts Catalog) to try to convert the leads into a buyer consultation. Immediate call backs are the key to getting the consumer while they are still interested and at the phone from which they called.





Exercise

How well do you market your listings?

Directions:

Complete the following questions.

Time: 10 minutes

1. Check all of the activities that you are currently using to market your listings.

Staging and Pricing Strategies

For Sale Sign, Rider Signs, and Directional Signs

Tube or Box with Flyers and Distribution of Flyers in Neighborhood

Flyers in House/Home Book/Comment Cards

MLS

Web Listings with Virtual Tour (Strategic Placement)

House Featured in “Marketing Vehicle” (Calendar, etc.)

Open House Program

E-mail/Fax/Voice Broadcast (with your web address)

Track Showings/Collect Feedback

Target Marketing

Weekly Seller Updates

Property Caravans

Creative Marketing Ideas (10K, Cable, etc.)

2. What would be the advantage to your business of doing all 14 steps? __________________________________________________________________________________________________________________

3. What happens when you don’t do all 14 steps? _________________________________________________________ _________________________________________________________





4. What could you do to ensure that all 14 steps occur, even in a hot seller’s market? _________________________________________________________ _________________________________________________________

5. Add the items not circled to your listing marketing plan. When will you do this? Commit to a time frame.

I will add the remaining steps by ___________________.



102BFocus

211BProspecting for Seller Listings

269BFour Prospecting Musts

In addition to marketing activities designed to generate seller listings, there are a number of prospecting activities which are aimed specifically at generating seller listing leads.

The following activities should be the backbone of your prospecting efforts:

365B1. FSBO’s (For Sale by Owner)

As part of your 8 x 8: FSBO plan, you should develop a FSBO Packet (see the MREA: Operations Manual) as part of your prospecting efforts to this group. This can be given to seller during the preview of their home or it may be mailed later.

366B2. Expireds

As part of your 8 x 8: Expired plan, you should develop an Expired Packet (see the MREA: Operations Manual) as part of your prospecting efforts to this group. This can be given to seller during the preview of their home or it may be mailed later.

367B3. Just Listeds

In addition to sending out “Just Listed” cards to homeowners surrounding your team’s new listings, you should be prospecting (either by phone or in person) these homeowners. Prospecting after you have sent out the cards provides you with a good conversational opener (i.e., “Hi, I’m ___________ with Keller Williams Realty. Did you get the postcard that I sent you about 123 Smith St.?...”).

368B4. Just Solds

You should also be prospecting to homeowners in your geographic farm on a regular basis. Sending out “Just Sold” cards to your farm announcing any homes (not just your team’s listings) that have recently sold in your farm, should also be followed up with prospecting (either by phone or in person). Offering these homeowners CMA’s on their homes is a great way to establish a professional relationship.

This does not

mean that you

should do these to

the exclusion of

other prospecting

activities. You will

need to work in

other types of

prospecting, as

well. But these

four should be

done no matter

what.



15BDiversity 212BMarketing-based, Prospecting-enhanced

270BHedging your bets

Our interviews with top-producing agents clearly reveal that they purposefully employ a wide variety of techniques to a greater-than-average number of sources. Think of it as diversifying your lead generation portfolio. The multiple methods and sources will not only bring you more business in prosperous times, but will also help protect you during uncertain times.

The best strategy to diversify and protect your lead generation portfolio is to be marketing-based, prospecting-enhanced:

369BMarketing-based

Marketing is a time-leveraged activity. To generate the number of leads you will need, prospecting just won’t be enough. Marketing can give you the leverage you’ll need to generate a large number of leads for tomorrow’s business.

370BProspecting-enhanced

Prospecting keeps you in a proactive—vs. reactive—state. It allows you to keep your hand in proactive customer-creation activities that will be critical to your ability to hit your numbers when the market shifts and you’re in a period when attracting through marketing doesn’t generate enough leads for today’s business.

Prospecting at the millionaire-level is:

1. Time spent with the inner circles of your database (i.e., Allied Resources, Advocates, and Core Advocates).

2. Your team of telemarketers, buyer specialists, and listing specialist all doing business in your name.




103BDiversity Marketing-based, Prospecting-enhanced (continued)

Exercise

Expanding your marketing and prospecting activities

Directions:

1. Look back at your answers on pg. X76 X, and answer the following questions.

2. Then, think about how you will improve your lead generation program, and answer the questions below.

Time: 25 minutes

1. How have you been prospecting and marketing to the General Public? __________________________________________________________________________________________________________________

2. How have you been prospecting and marketing to your Haven’t Met Target Groups? __________________________________________________________________________________________________________________

3. How have you been prospecting and marketing to your Sphere of Influence? __________________________________________________________________________________________________________________

4. How have you been prospecting and marketing to your Allied Resources? __________________________________________________________________________________________________________________





5. What is your strategy for moving people into your Met database inner circles? ________________________________________________________________________________________________________________

6. List 3-4 creative ways that you could expand your current Marketing and Prospecting activities. List the actions you will need to take to make this happen. For example, maybe you are currently telemarketing to FSBO’s and you are going to expand that to begin telemarketing to Expireds, as well. You may need a telemarketing script specific to dealing with Expireds, so your action step might be to find appropriate scripts.

I will expand my current Marketing and Prospecting by…

I will need to take the following actions to make this happen…

Then, when you are ready to expand into other marketing and prospecting activities, it should be a gradual affair. Start by adding no more than 3-4 new activities and measuring their effect on your lead generation.

7. List 3-4 completely new Marketing and Prospecting activities that you will add over the next 3 months.

_________________________________________________________

_________________________________________________________

_________________________________________________________

_________________________________________________________





Truth Even if you are already netting a million, you probably still

have a large number of lead generation opportunities to explore.

But exploring all of these options without leverage could leave you spread too thin. Before you expand your efforts, first examine

your current marketing and prospecting activities. Look for ways to expand those activities.



106BMy Scorecard

Exercise

Directions:




Time: 5 minutes

Millionaire Referral Systems Chapter 5



Chapter 5: Millionaire

Referral Systems


[1] Understand your referral strategy to become the Realtor® of choice.

[2] Focus on cultivating your inner circles to generate a steady stream of referrals.



16BReferral Strategy

213BRealtor® of Choice

271BSuccess through others

Truth To get to and remain at the millionaire level, your chief

concern has to be filling your database with advocates who will help you grow your business.

As discussed in “Chapter 2: Building Your Database,” your contacts should be grouped not only in terms of their relation to you but in terms of their relevance to your business. The inner circles of your database will consist of those people that you know who are willing to refer you to their friends and family.

371BStrategy

In order to create advocacy, top agents know that all marketing and prospecting activities should include a request for referral business. Anytime you speak with, email, write a note, or send a marketing piece to someone in your database, your strategy for turning contacts into advocates is clear:

1. Educate

2. Ask

3. Reward

Truth The intent of your marketing is to consistently “touch” your target audience to create, not only business, but advocacy, as

well.





214BEducate

272BEducation is key

Question How many friends do you have who, although you may know where they work or their job title, you don’t really

know what they do for a living?

Question How many friends do you have who, who even if they know

you’re a Realtor®, could readily communicate to a prospective referral the benefits of using you as their

Realtor®?

Each time you make contact with someone in your database, you should be “educating” them. In other words, you should reinforce the notion that you are in the business of real estate sales, that you are very good at what you do, that you have knowledge to share, and that you prefer to do business on a referral basis.

If your network isn’t able to communicate why someone should work with you instead of another Realtor®, you have a problem of education. You need to be communicating to your network what it is that you do and what the benefits of buying and selling real estate through you are.

One of the easiest ways to deliver this education to someone is to first ask them, “What do you do for a living? What does a good prospect for you look like?” Then, when they reciprocate, you can tell them what you do and how you prefer to do business.




108BReferral Strategy Educate (continued)

An example of this might be:

“I help people buy and sell homes. Since I work mostly by referrals, I make it my goal to exceed my clients’ expectations. And getting my business through referrals allows me to better concentrate on the needs of my clients.”





215BAsk

273BYou Won’t Get What You Don’t Ask For

Asking for business is something that many people feel uncomfortable with. But the truth of the matter is that, even if those in your network know that you help people buy and sell homes, it doesn’t mean that they are going to refer people in their sphere of influence to you. You must ask. Those who ask for business receive business.

372BRealtor® for Life

Asking for business doesn’t have to be awkward if you can make it a win-win situation where you are both benefiting from the relationship. Use the script below:

“What do you do for a living? What does a good prospect for you look like?” (Listen to their response. Then reply.) “I help people buy and sell homes. Since I work mostly by referrals, I make it my goal to exceed my clients’ expectations. And getting my business through referrals allows me to better concentrate on the needs of my clients. U (name) U, who do you know that is looking to buy or sell real estate?

“If you or someone you know wanted to buy or sell real estate, do you have someone that you would refer to? I would appreciate the opportunity to earn the right to be your Realtor® for life. And I want you to know that should you ever refer anyone to me, I will provide them with the level of service that you would want to them to have.

“As a matter of fact, I have a client appreciation program to acknowledge my clients who have helped me with my business. I send them some item of value every month. Would you be interested in receiving some of these? Great, where should I send them?”




110BReferral Strategy Ask (continued)

Exercise

Role-play

Directions:

1. Watch as your instructor and a volunteer demonstrate the script on the previous page.

2. Then find a partner and role-play—take turns so you both have the opportunity to play the agent.

Time: 10 minutes




216BReward

274BReferred Gratification

You must be systematic in your approach to rewarding a referral. There are five things to keep in mind when it comes to rewarding referrals:

1. Your rule of thumb should be: treat the referral source even better than the referral.

2. Show your appreciation at every stage of the transaction: when you take the referral call, when you meet with the referral, when you do business with the referral, and when the transaction is complete. The important thing is that you reward them right away, so that they repeat the behavior soon.

3. Reward the right behavior. Your contacts aren’t in the business of screening clients before they refer them to you—the act of referral is what should be meaningfully rewarded. That is what you want them to do again and again.

4. Recognition and appreciation are as important as gifts. You don’t have to buy the referral relationship.

5. Reciprocate when possible. Sending them referrals will generate referrals to you. Be a networker, and find ways to help them with their business or work.




112BReferral Strategy Reward (continued)

373BNothing says “Thank You!” like…

1. Basket of goodies

2. Movie passes

3. Client appreciation dinner/party (sponsored by your vendors)

4. Personalized gift

5. One-on-one lunch

6. Hand-written “Thank You” notes

7. Free hat/t-shirt (walking billboards)

8. Free massage

9. Book

10. Game night

11. Manicure/Pedicure

12. Home store gift certificate

13. Restaurant gift certificate

14. Their favorite store gift certificate

15. Co-sponsor their kid’s sports team (walking mini-billboards)

Exercise

How will you reward your contacts for referrals?

Directions:

Use the space on the following page to document everyone’s responses as your instructor leads this brainstorm.

Time: 15 minutes




113BReferral Strategy Reward (continued)

Baked Goodies Fruit basket



17BCultivating Your Inner Circles 217BThe Five Referral Systems

As we saw in chapter two, the goal is to amass over 150 people in the inner circles of your database. Considering the level of personalized attention that you must give to each of these contacts, it is important to cultivate these relationships in a systematic way.

To better maximize the referral potential of your inner circles, implement the following systems:

275B1. Establish a database

As mentioned earlier, an organized database is necessary to operate at the millionaire level. The information you keep on your contacts will get more and more detailed as they progress through the circles of your database. Your Core Advocates should have as much information recorded in your database as possible.

Think of it this way: if you aren’t getting this information on your inner circle contacts, you aren’t developing the relationship properly. And if you aren’t recording this information, your team won’t be able to service these contacts the way that they should be serviced.

276B2. Make systematic personal contact

As you progress in building your team, you will begin to leverage talent in your lead generation efforts. Your Marketing and Administrative Manager will begin to take over marketing of the listings and the team. Your Telemarketer will begin to take over prospecting to your Haven’t Met database.

However, when it comes to your inner circles, you will continue to develop those relationships personally until you reach the seventh level and are ready to step out of the business. These personal contacts may include:




114BCultivating Your Inner Circles The Five Referral Systems (continued)

1. Direct mail and newsletters

2. Phone calls

3. Pop-bys

4. Lunches

5. Parties

277B3. Systematically follow up with special communication

In addition to your normal activities, you will need to follow up with your inner circles to service any special needs they may have. You will use several strategies to cultivate the relationship:

1. Hand-written notes (your specialists should be writing a minimum number of Thank You notes each week to their past clients, as well)

2. Real estate advice

3. Endorsement letters

4. Seminars for their employees or organizations.

5. Leads for their business

278B4. Provide exceptional customer service

Developing loyalty from your customers by continually “wowing” them is the surest way to get them to want to give you referrals. When you leverage talent in your business, one of the biggest challenges is training your team to deliver the same level of customer service that you would. You must train them to deliver a service plan that includes:

1. A caring attitude

2. Communication (consistent, frequent, and friendly)

3. Competency through systems (see “Exceeding Buyer’s Expectations” and “Exceeding Seller’s Expectations” in the MREA: Operations Manual)

All of these things are made possible by a database that contains personal information on your contacts and detailed notes on past correspondences and transactions. Teach your team to consult the database before they speak with a contact when possible, so they are better informed of who the client is and what their needs are.




115BCultivating Your Inner Circles The Five Referral Systems (continued)

279B5. Implement a client-appreciation program

As you build your team, you must develop team-oriented systems to show appreciation to all of the contacts who help you grow your business. These systems will take two forms:

1. 33 Touch: Advocate Appreciation – This is a database plan that serves as an ongoing reminder to your Allied Resources, Advocates, and Core Advocates that they should send you business. The items of value serve a dual purpose: (1) they show your appreciation for your contacts willingness to send you business, and (2) they tell those contacts that you know how to treat your customers.

2. Your team must be trained to immediately place a contact on this database plan any time they send you a referral.

3. Referral Reward – This is a system of tracking and rewarding referrals as they come into your business. Because you will be rewarding the referring contact at every stage of the transaction, not only must you keep track of the source of the referral, you must also track the referral through the various stages of the transaction. You should also let the referring contact know how things are going. But focus on the positives only; do not complain about the referral even if things are going badly.

(See MREA: Operations Manual and the MREA: Lead Tracking and Follow-Up course for more information, forms, and instructions on setting up these systems.)



116BCultivating Your Inner Circles

218BYour Inner Circles

280BAllied Resources

You should think of your allied resources as part of your business. Because their customer base is the same as yours (i.e., homeowners), home service-providers are in the unique position to deliver qualified leads to you. You may even move some vendors (mortgage, title, etc.) in-house a day or two per week—perhaps even permanently, depending on the needs of your business.

Make sure that you are visiting one-on-one with your vendors several times per year. These meetings are to educate them on how to communicate your team’s value proposition to potential clients and set expectations of customer service for your clients that you refer to them. In addition to rewarding them for their referrals, you will be referring business to them.

Eight out of ten homebuyers received recommendations from their agents for home product and service providers. Almost 90% of these homebuyers purchased at least one such product or service based on those recommendations (Source: “2002 National Association of Realtors® Profile of Home Buyers and Sellers”).

Look at the chart on the following page.




117BCultivating Your Inner Circles Your Inner Circles (continued)

(Source: “2002 National Association of Realtors® Profile of Home Buyers and Sellers”)

You have choices when it comes to vendor recommendations, and you should exercise that choice wisely. If they are not meeting the service expectations for your clients, this reflects poorly on you, and you should reevaluate the arrangement. And if they are not sending you business, you should not be recommending their services.


Recommendation of real estate related products and services

Service/Product Buyer used vendor Buyer used

someone else

No Recommendation

Made

Home inspector 72% 9% 19%

Title company/insurance 66 5 24

Insect/termite inspector 59 6 36

Appraiser 55 6 39

Mortgage lender 54 17 29

Home warranty 47 6 47




281BAdvocates

Advocates are those individuals who have done business with you in the past, and were so pleased with the level of service that you and your team provided that they will remain loyal customers and raving fans. However, as time goes by, they are apt to forget their enthusiasm for your team. This is why it is important to continually touch them with your Advocate Appreciation program—in which you are regularly sending them items of value—and to reward each act of referring business.

You should be meeting with your advocates at least once a month. These meetings should act not only as reinforcements of their advocacy, but as subtle networking appointments wherein you are looking for their help in establishing relationships with other advocates and, more important, core advocates.

Exercise

What are things you can do to “Wow!” your clients during the transaction to create Advocates?

Directions:

Use the space below to document everyone’s responses as your instructor leads this brainstorm.

Time: 10 minutes

Flowers at work (after contract is accepted) DIY kit (as move in present)





282BCore Advocates

Core Advocates are those people who are well-placed and will provide you with a steady stream of qualified leads. Core Advocates are built, not found. You must work to establish relationships with them by getting into relationships with people who are already in relationships with them. They will get you in the door.

Once you finally establish relationships with Core Advocates, your job becomes two-fold: 1) providing their referrals the highest level of service and 2) providing the Core Advocate some sort of service in return. What that reciprocal service might be depends on the person. If they are the CEO of a business that is growing, you may offer your services for referring potential recruits. Perhaps you may advise them on real estate investing. The point is to find out what their needs are and to fill those needs.

Additionally, your interaction with your Core Advocates will be highly personalized. You will be taking them out, having them over for dinner parties, and calling them frequently. The items of value that you send to your Core Advocates will be more valuable than anything you send to your other database groups.

Exercise

What sort of services can you provide Core Advocates?

Directions:

Use the space of the following page to document everyone’s responses as your instructor leads this brainstorm.

Time: 10 minutes





Teach/take them to Quantum Leap Teach MREI class



121BMy Scorecard

Exercise

Directions:




Time: 5 minutes



122BKW A&Q

Exercise

Directions:

1. Look at the categories below.

2. The first contestant will choose a question from the category of their choice.

3. Once the answer has been read, the first contestant to raise their hand will be given the opportunity to give the correct response. If the contestant answers correctly, they win the prize for the question and may pick the next question from the category of their choice.

4. If a contestant raises their hand but answers incorrectly, the next contestant to raise their hand has the opportunity to answer.

5. Answers must be phrased in the form of a question.

Leave your book open to this page only. Time: 15 minutes

Focus Referrals Clarity of Message

1 piece 1 piece 1 piece

2 pieces 2 pieces 2 pieces

3 pieces 3 pieces 3 pieces

Knowing Your Numbers Chapter 6



Chapter 6: Knowing Your

Numbers


[1] Weigh your lead generation options to determine what works for you. [2] Understand that the goal of lead generation is

numbers. [3] Determine the effect of your economic model

on your lead generation plan. [4] Recognize lead generation ratios and how they

determine the number of contacts you must amass. [5] Understand the variables of your local market

and your team, how they affect your lead generation efforts, and how to correct for them to hit your numbers. [6] Determine the cost of your lead generation

program.



18BWeighing Your Options 219BThe Process of Discovering What Works and Doesn’t Work for You

283BThe Lead Generation Scientific Method

Truth Successful lead generators pay attention to and become very knowledgeable over time about what works and what does

not work for them in their market. This understanding comes as a by-product of much learning, practice, and, most

important, attention to results.

When incorporating any marketing or prospecting activity into your lead generation, be scientific in your approach. Take the following steps:

374B1. Focus

Find an aspect of your marketing or prospecting that needs improvement or an activity that you want to implement in your lead generation program. This is where tracking the source of your leads becomes such a critical issue. Knowing where your leads are coming from and how much you are paying to get them is crucial in determining how effective any given lead generation method is—or isn’t—for your business.

375B2. Modeling

Begin with tried and true methods of approaching this activity that others have used to solve similar problems in similar markets.




123BWeighing Your Options The Process of Discovering What Works and Doesn’t Work for You (continued)

376B3. Systems

Decide on a plan, a budget, a message, a target audience, how you will integrate it into your overall lead generation strategy, and what results you need to see to know that it’s working.

377B4. Accountability

Use any given marketing or prospecting method consistently over a period of 3-6 months while meticulously tracking and sourcing your leads—using a Lead Source Spreadsheet (see MREA: Operations Manual – “Source Leads”)—so that you fully understand its impact on your business. Don’t discount a program that does not yield immediate results—marketing tactics often take several months to yield a return. And don’t fall wholeheartedly in love with one that does.

Additionally, each marketing piece you use should be trackable and comparable. That is, you will send out different marketing messages in different vehicles (magazines, newspapers, etc.) to compare results. You will then rotate the different messages through your various vehicles to check for consistency. By carefully tracking which messages are bringing in business from which sources, you will be able to determine the most effective message for any given vehicle.

378B5. Conclusion

Weigh the costs of your program against the net results to get a clear sense of the cost per lead. Tracking, sourcing, and evaluating costs vs. benefits over time will provide you with the necessary information to accurately judge the merits of a particular method.

If you have to get creative with or tweak the model, do so only after your lead generation model has been practiced and analyzed—and do so in accordance with your past results; learn from your mistakes and successes.

Truth When applied to a variety of marketing and prospecting techniques over time, this methodology will help you to discover the best ways to promote the strengths of your

business in your market.

To better

understand real

estate business

models, refer to

the MREA:

Business Planning

Clinic.



19BPlaying the Numbers Game 220BSafety in Numbers

Truth #1 While your conversion rates are very important, the number

of leads you must generate is even more critical.

High conversion rates allow you to generate the same income from fewer leads than if you had lower conversion rates. But,

lower conversion rates can be just as effective if you can amass a great number of leads.

Truth #2 Lead generation is not only a numbers game; it’s a massive

numbers game.

While the quality of the lead is important, it is still the quantity that counts. Most people do modest lead generation and get

modest results. But those few agents who do massive lead generation get massive results.




124BPlaying the Numbers Game Safety in Numbers (continued)

Truth #3 Systematic marketing is more important than creative

marketing.

Your marketing look and message are very important; however, let’s keep them in perspective. The real issue in lead generation is

the consistency and frequency of your contacts. There is a much stronger correlation between leads generated and the consistency

and frequency of your message than between leads and the creativity of the message.

Truth #4 Your lead generation plan must always be more ambitious

than your income goals. Markets shift, conversion rates slide, and things happen over time

that could cause you to need more leads than you originally thought you would. Your best defense against these unforeseen possibilities is to go on the offensive and build a lead generation plan that brings in more leads than you think you’ll need. This is

the power of overkill.



20BThe Influence of Your Economic Model 221BYour Economic Engine

Truth Your economic model helps you identify how many

appointments you must have to meet your goals. Then, you can use your conversion rates to calculate the leads

necessary to obtain those appointments.

You need leads in order to have appointments in order to have sales. And, you can never have too many leads. Never!

Leads are the fuel for your economic engine.

Leads



21BLead Generation Ratios 222BDatabase Numbers

The ratios of necessary contacts to generate a lead are different for your Met and Haven’t Met database. Below are typical ratios for both databases:

To People You’ve Met To People You Haven’t Met

8 x 8

33 Touch

12:2 Ratio*

12 Direct

50:1 Ratio**

Appears on page 187 of The Millionaire Real Estate Agent * The 33 Touch program should result in repeat and referral business at a rate of one referral and one repeat for every twelve people in the program. ** Your 12 Direct program should generate one piece of new business for every fifty people in the program.

284BNecessary Contacts

Using the above conversion rates, millionaire agents have three options for reaching their annual goal of 320 sales:





125BLead Generation Ratios Database Numbers (continued)

285BGetting the Names

Truth The most powerful and proactive approach would be to do

both in some combination of “overkill overtime” that ensures you the minimum number of leads needed to reach

your goals.

379BIt is not as intimidating as it looks

If you account for vacations, weekends, and sick days, the average person works roughly 240 days a year. If you were to add one person to your Met database each of those 240 working days, eight years later you would have enough people in your Met database to create 320 annual sales. Adding two people a day would get you there in four years. Three a day would get you to your goal in less than three years! And that’s assuming you have to start from zero.

The alternative is to go out and just accumulate mailing lists over time until you have 16,000 people in your Haven’t Met database.

Exercise

Determine your methods for obtaining contacts.

Directions:

Answer the questions on the following page.

Time: 10 minutes




126BLead Generation Ratios Database Numbers (continued)

1. What methods could you use to add people to your Met database? ____________________________________________________________________________________________________________________________________________________________________________________________________________________________

2. Where could you obtain lists of names and addresses to put in your Haven’t Met database? ____________________________________________________________________________________________________________________________________________________________________________________________________________________________



22BHitting Your Numbers 223BAdapt and Overcome

286BAdjusting with the Variables

Truth While your fundamental economic model remains sound,

understand that the real estate business is cyclical and markets always shift.

Because of this, your key numbers from that model are constantly in a state of flux. It takes considerable attention to current market trends and conditions in order to know how many listings you’ll

need to take in any particular month to meet your goals.

Lead generation ratios are relatively constant. However, there are factors that are dependent upon your local market and your team. These variables must be accounted for if you want to grow your business. Mastery of lead generation requires that you are aware of and understand the implications of the following:

287BInternal Influences

1. Lead conversion rate:

This is determined by tracking both the number of leads coming in and the number of appointments that your team has over the course of several months (formula: appointments/leads x 100 = %). The standard for this comes from the Mega Agent’s lead conversion rate.

If this number is too low and your team is burning up an exorbitant amount of leads to get appointments, you have a lead follow-up issue. There are two parts to this issue. The first is making sure that the leads are being properly funneled and assigned. The second part is making sure that your Buyer Specialists and Listing Manager know their scripts and the buyer and seller interview processes.




127BHitting Your Numbers Adapt and Overcome (continued)

2. Appointment conversion rate:

This is determined by tracking both the number of appointments and the number of signed listing agreements that your team has over the course of several months (formula: listing agreements/appointments x 100= %). The MREA standard for buyers is 65%, and for sellers it is 80%.

These numbers should be a significant part of your weekly 4-1-1’s with your Buyer and Listing Specialists. They should have clearly defined target rates, and you must hold them accountable for hitting their numbers. A low appointment conversion rate is a sure sign that your Buyer and Listing Specialists need more training and consulting on delivering buyer and listing consultations.

3. Listings conversion rate:

This is determined by tracking both the number of listings taken and listings sold for your team over the course of several months (formula: listings sold/listings taken x 100= %). The MREA standard for buyers is 80%, and for sellers it is 65%

These numbers are also a major part of your weekly 4-1-1’s with your Buyer and Listing Specialists. Again, they should have clearly defined target rates, and they must be held accountable for hitting their numbers. If your Buyer Specialists aren’t hitting their numbers, they need training and consulting in finding out what the buyer is looking for and how to tour homes with buyers. If your Listing Specialists are struggling with their listing conversion rates, make sure that the team is following the Basic Fourteen-Step Marketing Plan for Listings. It’s a matter of checking for motivation, education, and commitment.

NOTE: If your team’s conversion numbers are lower than standard, then in addition to training and consulting your people, you will have to increase your marketing efforts to bring in the quantity of leads necessary to hit your numbers.

288BExternal Influences

1. Seller’s market – A seller’s market occurs when there is either a shortage of houses on the market or numerous buyers. In terms of supply and demand, a seller’s market occurs when the demand exceeds the supply of houses. This is most beneficial to the sellers, because they


The key to

knowing these

ratios and to being

able to respond

intelligently to

them is to properly

source and track

leads as they come

into your business.




are able to sell their homes at higher prices. This is also when most agents get complacent about their lead generation. They are so busy selling homes that they fail to plan for the end of the seller’s market.

A hot seller’s market generally leads to a higher percentage of listings that sell in less time, and for a better price. But it may also create more FSBO’s and entice more agents to actively work the listing side of the business, which can compete with your listing efforts. And if listings are selling quickly, you’ll have to speed up your marketing, so you have the time to get the desired additional leads that marketing your listings provides.

2. Buyer’s market – A buyer’s market occurs when there is either a shortage of buyers or numerous houses on the market. In terms of supply and demand, a buyer’s market occurs when the supply exceeds the demand of houses. This benefits the buyer because sellers price their homes more competitively in this type of market, enabling buyers to get more home for their money.

A buyer’s market means that homes will stay on the market longer, so you will carry listings in your inventory longer and buyers will become commodities. In this type of market, lead generation for listings is still essential. Knowing how to properly market a listing and continually prospecting for buyers will enable you to get your homes sold faster and for more money than your competitors. And you may need to take more listings at the “right price” to keep your income on track.

3. Transitioning market – A transitioning market occurs when the market is shifting between buyer’s and seller’s markets. This type of market generally tends to level the playing field between buyers and sellers. It is in this type of market that most agents begin to see their businesses shift in a dramatic way. And once again, those who have done the most and the best lead generation will gain the most advantage in the new market conditions.

NOTE: Most of these factors are driven by local market conditions that you need to understand clearly and keep current with. And staying on top of your conversion ratios helps you anticipate and react to market shifts and take the appropriate actions to keep your income steady.





289BBeing Tenacious about Listings

Truth One of the distinguishing characteristics of millionaire

agents is their insistence on hitting their goals. They bring amazing urgency, persistence, and tenacity to their efforts.

380BIt starts with an attitude

If you are going to become a success in any endeavor, you must be tenacious about hitting your goals. Obstacles are inevitable, but they can be overcome or at least circumvented. Establish the following mantra in your life: “There are no excuses, no hiding places, and no victim behavior.” And whatever you do, don’t ignore your mistakes; learn from them and make a commitment not to repeat them the next time around.

381BKeep your team focused

The attitude described above is vital to your role as the leader of your team, as well. It is your job to instill this attitude in them. Make hitting the numbers the focus of the entire team. Get into the habit of communicating your seller listing goals loudly, committing to them openly, tracking progress toward them with your team on a regular basis, and, most important, celebrating your victories.

And when performance lags and seller listing goals are not being met, maintain your standards and hold your staff accountable for their goals. Since meeting your monthly seller listing goals is the second most critical aspect of your business (lead generation being first), be prepared to actively step back into the day-to-day business, if that is what it takes to make things right and get your team back on track. But don’t make this your first reaction. Remember, accountability comes first.





Truth Your personal tenacity, your public commitment to your

goals, and your willingness to reward people and hold them accountable are the keys to getting the number of

seller listings necessary to achieve your net income goals on a consistent basis.

This is a visibility issue for your office. Post your goals prominently, so that your team sees them everyday.



23BThe Cost of Success 224BMet and Haven’t Met Costs

Met Haven’t Met

(Big Goal = 1,920 People = 320 Sales)

1. Every 12 people in your Met database marketed to 33 times each year (33 Touch) = 2 sales. (One sale is a referral and one is repeat business.)

2. Restated: 396 touches (12 x 33) = 2 sales.

3. So, 396 touches x $0.50 (average cost of a touch) = $198 for 2 sales OR $99 per sale. (If you double your costs for a worst-case scenario, count on $198/sale.)

4. To reach your goal of 320 sales, how many people would you need in your Met database? Answer: 320 x 12/2 = 1,920 people.

5. Cost = 320 x $99/sale = $31,680/yr. (OR a worst case scenario of Cost = 320 x $198/sale = $63,360)*

*The cost of the 8 x 8 program is not included.

(Big Goal = 16,000 People = 320 Sales)

1. Every 50 people in your Haven’t Met database marketed to 12 times a year (12 Direct Mail) = 1 sale.

2. Restated: 600 touches (50 x 12) = 1 sale.

3. So, 600 touches x $0.50 (average cost of a touch) = $300 per sale.

4. To reach your goal of 320 sales, how many people would you need in your Haven’t Met database? Answer: 320 x 50 = 16,000 people.

5. Cost = 320 x $300/sale = $96,000/yr. (OR a worst case scenario of Cost = 320 x $600/sale = $192,000).





131BThe Cost of Success Met and Haven’t Met Costs (continued)

382BAssumptions

1. If you look at the Budget Model of The Millionaire Real Estate Agent, you will see that lead generation costs should make up about 10% of your gross income.

2. This is based on an average cost of $0.50 per touch (considering that in addition to mailings, you will also be using the phone and cost-effective e-mails). Some millionaire agents interviewed in the writing of The Millionaire Real Estate Agent marketed to their farms for less than $0.20 per touch. Others chose the four-color, first-class mail route and averaged a dollar or more. You need to track your costs, so you can plug in your numbers.

Exercise

Your lead generation costs.

Directions:

Answer the questions below.

If you have not taken the MREA: Business Planning Clinic, the “Your Annual Lead Generation Goals” section in the Appendix of this manual will help you determine the number of contacts you will need to have in your Met and Haven’t Met databases.

NOTE: You can also download the free MREA Lead Generation Model spreadsheet from KellerWilliamsUniversity.com. The spreadsheet allows you to enter your closed sales goals and will automatically determine how many names you need in each database.

Time: 15 minutes

1. After you have decided how many names you will need in your Met and Haven’t Met databases in order to meet your closed sales goals, record those numbers here:

MET HAVEN’T MET

________ Names ________ Names

2. Based on those numbers, record how many closed sales will come from your Met database and how many will come from your Haven’t Met database.




132BThe Cost of Success Met and Haven’t Met Costs (continued)

MET HAVEN’T MET

________ Names ÷ 12 x 2 = ________ Closed Sales

________ Names ÷ 50 = ________ Closed Sales

3. Record your average cost for a touch. If you are not sure, use the Millionaire Real Estate Agent average of $0.50 per touch. ________

4. Determine the cost of your lead generation program:

MET HAVEN’T MET

5. Every 12 people in your Met database marketed to 33 times each year (33 Touch) = 2 sales. (One sale is a referral and one is repeat business.)

6. Restated: 396 touches (12 x 33) = 2 sales.

7. So, 396 touches x _____ (your average cost of a touch) = $______ for 2 sales. Divide this number by 2 for your cost per sale: _______.

8. ________ Closed sales from Met database

x ________ Cost per sale

= ________ Cost for your 33 Touch program/yr*

*The cost of the 8 x 8 program is not included.

5. Every 50 people in your Haven’t Met database marketed to 12 times a year (12 Direct) = 1 sale.

6. Restated: 600 touches (50 x 12) = 1 sale.

7. So, 600 touches x _____ (your average cost of a touch) = $______.

8. _________ Closed sales from Haven’t Met database

x _________ Cost per sale

= _________ Cost for your 12 Direct program/yr)

Total Cost: __________



133BMy Scorecard

Exercise

Directions:

We have reached the end of this chapter! Before we move on, take five minutes to assess your mastery of this chapter's objectives.

1. Refer to the My Scorecard sheet located at the back of this manual.



Time: 5 minutes



134BAha! Scratch Out

Exercise

Directions:

1. Think about what you just learned that will help you to set up your lead generation systems.

2. Get into groups of about four-five. Each group will share Aha!’s about the material just covered within the group and choose five of their best. The group will write their five Aha!’s on a piece of paper from the flipchart.

3. When all teams are finished, compare the papers. Duplicate Aha!’s are scratched out and the team with the most number of Aha!’s left wins.

4. If you hear or think of a great Aha!, use the worksheet below to put it into action.

Time: 15 minutes

1. The single most important “Aha!” for me:

2. How I will use this “Aha!”:

3. How I will benefit:

4. What I need to do to make this happen:

Putting It All Together Chapter 7



Chapter 7: Putting It All

Together


[1] Anticipate obstacles that could get in your way and determine how you will overcome them. [2] Protect your lead generation time. [3] Keep focused on generating leads for your

business.



24BOvercoming Obstacles 225BDon’t Let Anything Get in Your Way

Exercise

What are the obstacles that might prevent you from building and systematically marketing and prospecting to your contact database? What will you do to eliminate or manage each obstacle?

Directions:

Use the table below to document everyone’s responses as your instructor leads this brainstorm.

Time: 10 minutes

Obstacles: What you will do to eliminate or manage this obstacle:



25BProtecting Your Lead Generation Time 226BTime on Your 20%

Truth Lead Generation is the most dollar-productive activity you

can do for your real estate sales business.

When people don’t truly understand the importance of lead generation, it can masquerade as an “optional activity” rather than

as the core foundational discipline that it is. This is something you should never allow to happen!

383BJealously Guard This Time

For those who are seeking real estate success at a very high level, lead generation time must be considered the most important time on their calendar.

To avoid being entangled and pulled back into the day-to-day administrative, service, and personnel issues that eat away at your time, try the following:

1. Make a commitment to block off substantial, regular time in your calendar, and devote it to lead generation. This is time you use to prospect, follow up on existing leads, and develop and implement marketing plans.

2. Communicate to your team members that this time is off-limits unless it is an emergency.

3. Delegate, train, and consult; but let others handle the details. And hold them accountable for handling these details.




135BProtecting Your Lead Generation Time Time on Your 20% (continued)

4. Assign a gatekeeper to keep your 80% at bay.

5. Schedule it early in the day, so it gets done first.

6. If you erase, you must replace. If you must do something else during this time, replace it with equal time on your calendar.

Exercise

Are you ready to time-block your lead generation activities?

Directions:

In the sample daily calendar on the following page, block out the appropriate amount of time for the following lead generation activities:

1. Making a list of who to contact

2. Marketing (designing your plan and developing your message)

3. Prospecting (call with a purpose)

4. Updating your contact database

5. Doing lead follow-up

6. Maintaining your lead management systems

Time: 5 minutes


If a member of

your team is

handling an

activity, put their

initials next to the

activity. When you

get back to your

office, make sure

the activity gets

added to their

calendar.



136BProtecting Your Lead Generation Time Time on Your 20% (continued)

Daily Calendar

5:30 AM 2:00 PM 6:00 AM 2:30 PM 6:30 AM 3:00 PM 7:00 AM 3:30 PM 7:30 AM 4:00 PM 8:00 AM 4:30 PM 8:30 AM 5:00 PM 9:00 AM 5:30 PM 9:30 AM 6:00 PM 10:00 AM 6:30 PM 10:30 AM 7:00 PM 11:00 AM 7:30 PM 11:30 AM 8:00 PM 12:00 PM 8:30 PM 12:30 PM 9:00 PM 1:00 PM 9:30 PM 1:30 PM 10:00 PM



26BKeeping Focused 227BYour Job

Truth Your job is to generate leads for your business.

Part of your value proposition to the Buyer and Listing Specialists on your team is that you are the “generator of leads.” That takes the burden of lead generation off of them, which allows them to

focus on converting and servicing customers. You are the Rainmaker.

290BMaintaining Focus

Even if you mentally accept this truth, it can still be hard to maintain your focus on a complete lead generation program. This is especially true when the business cycle in your market is up and there just seems to be an endless stream of leads.

The danger of complacency in lead generation is that each time the market shifts—and it always does—you’ll have to reinvent your lead generation approach.

The best in the industry never allow their lead generation systems to fall prey to the ebb and flow of enthusiasm or the market. To be extremely successful in the long term, your approach to lead generation needs to be purposeful and consistent. You need to:

1. Systematize such that little energy or enthusiasm is required to keep the machine running at all times.

2. Have an ongoing plan that includes yearly, monthly, and even weekly installments.

3. Schedule your lead generation activities on your calendar at the most productive time of the day—before 11:00 a.m.

Remember, success in the lead generation game is in the numbers, so you simply can’t overdo it. You can never have too many leads!



137BKeeping Focused

228BMREA: Systematizing Lead Generation Aha!’s

1. Be marketing-based, prospecting enhanced.

2. Pursue a double-barrel lead generation approach with both Met and Haven’t Met databases. Take both approaches to the highest level to hedge your bets.

3. Leverage technology and your team to create a systematic lead generation program that will move contacts through your circles and take business from your Haven’t Met database (new) and turn it into business from your Met database (repeat and referral).

4. Lead Generation controls other business costs. By controlling the leads, you can control other sales and service costs.



138BMy Scorecard

Exercise

Directions:




Time: 5 minutes



27BWhat Have You Learned? 229BMREA: Systematizing Lead Generation Outline

Chapter Topics

1. In the Business of Lead Generation

a. The evolution of lead generation b. The positioning battle c. The difference between lead generation and lead receiving

2. Building Your Database

a. Understanding that your business is your database b. Building a database c. Feeding it every day

3. Working Your Database

a. Communicating to it in a systematic way b. Servicing all the leads that come your way

4. Marketing-based, Prospecting-enhanced

a. Understanding the MREA Lead Generation Strategy b. Presenting a clear, cohesive and consistent image and a powerful message c. Focusing on seller listings d. Diversifying your lead generation by making it marketing-based,

prospecting- enhanced

5. Millionaire Referral Systems

a. Educating, asking, and rewarding for referrals b. Cultivating your Met database inner circles

6. Knowing Your Numbers

a. Discovering what works and doesn’t work for you b. Playing the lead generation numbers game c. The influence of your Economic Model d. Lead generation ratios e. Hitting your numbers f. The cost of massive lead generation success

7. Putting It All Together

a. Overcoming obstacles b. Protecting your lead generation focus time c. Keeping focused

You are here.



139BMy Action Plan

Exercise

Directions:

We have now reached the end of this course! Before we conclude, develop your action plan for complete mastery of this subject matter. 1. Refer to the My Action Plan sheet located at the back of this manual. 2. Choose a peer partner and exchange contact information. 3. Use your My Scorecard sheet to review your weak topic areas. 4. In the “Big Rocks” column of My Action Plan, list the major areas in which

you need improvement. 5. In the “Action Plan” column, list three to four specific tasks that you will

complete to bring yourself up to a mastery level. 6. Under the “Accountability Date” column, record the date your partner will

call to check on your status.

Time: 15 minutes

Appendix



Appendix

[1] Communicating Your Message [2] Sample Marketing Materials [3] IVR Script Template [4] Your Annual Lead Generation Goals

Appendix


28BCommunicating Your Message 230BDefining Your USP

Your unique selling proposition (USP) tells people why they should do business with you. Use your USP as a basis for your slogan, your look, and theme for all of your marketing materials.

When Gary Keller was 22 years old and just starting out in real estate, his USP was that he was a professional. Gary defined a professional as someone who knows what he knows and does not know—and is able to tell the difference.

Even if you are new to the real estate business, you have a USP. The challenge is to figure out what it is and communicate it to your prospects and customers.

Exercise

Directions:

Define your USP by answering the questions on the following pages. You will be using your USP as a basis for your slogan, your look, and as a theme for all of your marketing materials.

Time: 20 minutes


Appendix


140BCommunicating Your Message Defining Your USP (continued)

1. Place a check next to all the words that describe your personal qualities.

Able Accurate Adaptable Adept Aggressive Alert Ambitious Analytical Articulate Attractive Bilingual Bright Capable Competent Confident Consistent Cooperative Creative Dedicated Dependable Detail-

oriented Dynamic Educated Effective Efficient Energetic

Enthusiastic Executive

caliber Experienced Expert Extroverted Fast Fit Flexible Formidable Friendly Gregarious Hard

working Healthy Highly

motivated Honest Imaginative Ingenious Innovative Intelligent Inventive Ivy League Judicious Licensed Literate Managerial Motivated

Multilingual Multitalented Organized Outgoing Outstanding Patient People-

oriented Perceptive Personable Poised Polished Principled Productive Professional Proficient Qualified Quick-

thinking Ready Reliable Resourceful Responsible Sane Scholarly Scrupulous Seasoned Self-assured

Self-reliant Serious Shrewd Skilled Smart Spirited Stable Successful Talented Tenacious Top-level Trained Trustworthy Upbeat Valuable Versatile Veteran Well-

educated Well-

groomed Willing Witty Worldly Young Youthful


Appendix



List additional qualities here: __________________________________________________________ __________________________________________________________ __________________________________________________________ __________________________________________________________


Appendix



2. Of all of the qualities that you checked, list the top five and their benefits to your customers here:

Top Five Qualities

How this Quality Benefits Customers


Appendix



3. Place a check next to all the words that describe your talents.

Acting Animal training Archeology Artistic Astrology Astronomy Building Caring Carpentry Concentrating Cooking Coordinating Craftsmanship Creativity Cycling Dancing Debating Deciphering Decorating

Designing Directing Discerning Drawing Driving Equestrian Exercise Farming Fighting Fishing Floral

arranging Flying Focusing Friendship Gardening Healing Humor Inventing

Investigating Knitting Leading Listening Loving Managing Mathematics Memorizing Modeling Music Navigating Nurturing Organizing Persuading Planning Playing Preaching Presenting

Programming Questioning Ranching Reading Selling Sewing Singing Sleuthing Speaking Sports Stenography Stitching Strategizing Swimming Teaching Time mgmt. Typing Writing

List additional talents here:

___________________________________________________________ ___________________________________________________________ ___________________________________________________________


Appendix



4. Of all of the talents that you checked, list the top five and their benefits to your customers here:

Top Five Talents



Appendix



5. Place a check next to all the words that describe your values.

Abundance Actualization Adventure Awareness Balance Beauty Body Caring Change Character Clarity Commitment Communication Community Compassion Consciousness Control Courage Creativity Curiosity Dignity Empathy Enlightenment Environment

Equality Ethics Excellence Excitement Fairness Faith Feelings Focus Freedom Friendship Fulfillment Fun Grace Happiness Hard work Harmony Honesty Humility Insight Integrity Intimacy Joy Justice Knowledge

Listening Love Mercy Mind Morality Peace Positive

attitude Positive

energy Prayer Privacy Reality Reflection Restraint Results Rights of

others Romance Sacrifice Self-

confidence Self-control Self-denial Self-

discipline Self-

discovery Self-

improve Self-

knowledge

Self-respect Self-revelation Sense of self Sense of team Sensibility Service Silence Spirituality Strength Success Synergy Time Totality Tranquility Trust Truth Understanding Virtue Vision Win-win Wisdom


Appendix



List additional talents here:

_____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________


Appendix



6. Of all of the talents that you checked, list the top five and their benefits to your customers here:

Top Five Talents



Appendix



7. Based on how you responded to the previous statements about your qualities, talents, and values, summarize your USP by finishing these statements:

You should hire me as your real estate agent because…

This benefits you , the customer, because…

This column should

address what’s on

the minds of your

customers and

what they value.

This is the

language that you

want to speak.

Appendix


149BCommunicating Your Message

231BCreating Your Slogan

Your slogan is a statement that dramatically and persuasively represents you and the reason to do business with you. Your slogan should sum up your USP, and it should be included on all of your marketing materials (business cards, email signatures, postcards, ads, commercials, etc.).

REMEMBER: Your slogan should address the benefits to your customers of using you as their real estate agent. Some agents hear negative responses to agent-centric slogans, such as ”I’m Number One in Real Estate Sales” or “Hire the Best.” Speak the language of your customers and address what is important to them.

Exercise

Directions:

Create your slogan by answering the questions on the following pages. You will be including your slogan on all of your marketing materials.

Time: 20 minutes

1. Before coming into the real estate profession, did you ever buy or sell a home?

No. (Skip questions 2-5.)

Yes.

2. How did you select the agent that you worked with? _________________________________________________________ _________________________________________________________ _________________________________________________________


Appendix


150BCommunicating Your Message Creating Your Slogan (continued)

3. What gave you confidence in this person? _________________________________________________________ _________________________________________________________ _________________________________________________________

4. What made you remember him/her? _________________________________________________________ _________________________________________________________ _________________________________________________________

5. What was his/her slogan? _________________________________________________________ _________________________________________________________ _________________________________________________________

6. Think of today’s real estate customers, what’s on their minds? _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________


Appendix



7. Let’s start with Triples - - three powerful words in a row. Here are some examples: Create at least two sets of Triples that sum up your qualities, talents, values, and USP. __________________ -__________________ - __________________ __________________ -__________________ - __________________ __________________ -__________________ - __________________

__________________ -__________________ - __________________ __________________ -__________________ - __________________ __________________ -__________________ - __________________ If a slogan seems to emerge at this point, circle it and continue; you might come up with a better slogan as you complete the following pages.


People – Vision – Success

Honesty – Integrity – Results Educated – Enthusiastic – Enterprising Competent – Committed – Cooperative

Capable – Reliable - Durable

Appendix



8. Make a slogan by filling in the blanks:

Success Starts With ______________________

The ______________________ Works As Hard As You Do

Because It’s Time For _____________________

_____________________ Means Business

A Little _____________________ Goes A Long Way

Not Just Another _____________________

Your Partner In _____________________

The _____________________ Advantage

A _____________________ For All Seasons

Best Kept Secret in _____________________

The _____________________ Experts

Get Hooked On _____________________

Experience The _____________________

Discover The _____________________

The _____________________ Pledge

A _____________________ Agent Who Works For You

_____________________ Is My Middle Name

The _____________________ Edge

State of the Art _____________________ That Makes Difference

The Fun Begins With _____________________

The _____________________ Guys/Gals/Team

_____________________ The Way You Want It

Nothing Sells Like _____________________

_____________________ From The Word “Go”

Now Is When You Need ___________________

Isn’t It Time For _____________________

Would You Like _____________________

I _____________________ For You


Appendix



List the three slogans you like the best. Feel free to modify. __________________________________________________________ __________________________________________________________ __________________________________________________________


Appendix



9. Create a slogan by using the copycat technique! Circle all of the slogans on the next two pages that appeal to you.

Don’t Make a Move without Me

People – Vision – Success

Because Every Move Matters

The Executive Home Specialist

A HouseSOLD Name

Simply Sold

Always Making a Difference

We Listen – We Care – We Get Results

Not Just another Real Estate Agent

Keller Williams Does More

The Only Real Estate Consultant That You Will Ever Need

Your Real Estate Consultant

Dedicated To Your Dreams

You + Me = Sold

Someone to Watch Over You

Your Key To Results

The Right Way Everyday

Helping Customers By Being A Resource To Their Dreams

Old Fashioned Service

Two For You

Call Jack and Start to Pack

The Best Just Got Better

Excellence at Work

Results Are a Way of Life

Helping People Make Informed Decisions

Winners Just Make Things Happen

Your Real Estate Connection

On The Go—Making Things Happen

Service with a Personal Touch

Service Based On Trust

Experience to Perform – Confidence to Succeed

Yes I Can

Selling Houston One Home at a Time

Someone Who Cares

The Shortest Distance between Just Listed and Sold

The First One Moving Should Be Your Real Estate Agent

Integrity Says It All

Bringing Home Results

Your Life-Long Real Estate Team

Together We’re Better

Real Estate Service At Its Best

Because We Know It’s Important


Appendix



Performance Outsells Promises

Promises Made – Promises Kept

Spouses Who Sell Houses

Your World Class Team

Making Dreams Come True

A Commitment to Quality

Work With Someone Who Cares

Your Satisfaction Is Our Future

Rock-n-Roll in Real Estate

A Real Estate Consultant for Older Americans

A Team You Will Want to Refer

Helping You Find Your Way Home

A Moving Experience

Making Your Dream Home A Reality

One Of Denver’s Natural Resources

Serving Your With Integrity

Everything I Touch Turns to Sold

The Keller Williams Boston Connection

It’s not about Us – It’s about You

The Right Agent – The Right Time

A Professional Real Estate Consultant For Professional People

Your #1 Choice in Real Estate

It’s Your Move—Get the Best


Appendix



List the three you like the best. Feel free to modify. __________________________________________________________ __________________________________________________________ __________________________________________________________


Appendix



10. Create a slogan that is a play on words regarding your hobbies, appearance, name, or background, family, team, or city. Create at least three slogans that are a play on words. _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________ _________________________________________________________


The Hat Lady (Susanne Forbes Dicker) Don’t Pass the Buck (Buck Owens)

The Art of Real Estate (Art Lucksinger) Real Estate With A Family Touch (The Ivy Team)

The Biggar Advantage (Kaye Biggar) For The Power Plus (Carl Power)

Carlene Cares (Carlene Shirk) Dan, Dan Your Real Estate Man (Dan Griffin) The Best Katch in Real Estate (Vickie Karp)

Positively Val (Val Friar) Just Say “Home, James” (Andrew James)

Count On Colleen (Colleen McCown)

Appendix



11. Now it’s time to put it all together and finalize a slogan that you will use on your business cards, postcards, ads, promotional items, and so on. Based on all of the work that you have done, what are your top three favorite slogans?

a. ______________________________________________________

b. ______________________________________________________

c. ______________________________________________________

Form a small group of no more than five people. Share your top three slogans and ask the group to vote for their favorite one. Each person should briefly explain to you why he/she thinks the slogan will appeal to consumers. Write the slogan that gets the most votes here: __________________________________________________________ (End of the small group discussion.)

12. You don’t have to use the slogan the group voted for—you were simply doing a focus group to test your slogans and people’s reaction to them. Write the slogan you will use on all of your marketing materials here:

Appendix


29BSample Marketing Materials 232BBrochures

291BGuaranteed Sale Tri-fold Brochure (exterior)


Appendix


159BSample Marketing Materials Brochures (continued)

292BGuaranteed Sale Tri-fold Brochure (interior)

Appendix


160BSample Marketing Materials

233BPackets

293BHassle-Free Listing Packet (introduction page)


Appendix


161BSample Marketing Materials Packets (continued)

294BHassle-Free Listing Packet (page 2)

Appendix



234BPostcards

295BCMA Offer (front)


Appendix


163BSample Marketing Materials Postcards (continued)

296BCMA Offer (back)


Appendix



297BJust Sold (front)


Appendix



298BJust Sold (back)


Appendix



299BJust Sold (front)


Appendix



300BJust Sold (back)


Appendix



301BFSBO Card (front)


Appendix



302BFSBO Card (back)


Appendix



303BHassle-Free Postcard


Appendix



304B8 x 8 Postcards

Appendix



235BFlyers

305BHassle-Free Listing Flyer


Appendix



236BAdvertisements

306BReal Estate Book Double-page Ad (left page)


Appendix


174BSample Marketing Materials Advertisements (continued)

307BReal Estate Book Double-page Ad (right page)

Appendix



237BVideo

308BFree Consumer Video

Appendix


30BIVR Script Template Code #: ___________

Welcome to ______U(Property Address)U______________________________. Located in _________U(area of town)U________________________________.

This ____ bedroom, ____ bath home is situated on a _________________ lot. It is a ___________________ style and is priced at $_______________.

If you would like to arrange a private showing or if you would like additional information on this property, call our office at ___________ and we’ll send you a package of information or answer any questions you might have.

If at any time you would like to speak to us direct, press zero and this system will attempt to locate us. If we are unavailable, you can leave voicemail and we will return your call at our earliest opportunity. Also, if after listening to this recorded information you would like more detailed information by fax, simply press __ and enter your fax number. We also have an entire list of properties currently available in any price range that we would be glad to send you.

Again, call our office at ___________ and don’t forget, if you buy or sell a home with The ___________ Team, you are entitled to the use of our exclusive moving van free of charge. Please contact us for complete details. Thank you again, for calling The ___________ Team.

Appendix


31BYour Annual Lead Generation Goals 238BPlanning for Success

Exercise

How many leads do you need to hit your goals?

Directions:

Use your Economic Model to answer the questions below.

Time: 45 minutes

309BStep 1

What are your closed sales goals?

1. The most direct way to determine the nature and amount of lead generation activity you will do is to calculate it from the number of closed sales that you desire to achieve. Look at your Economic Model in the MREA: Business Planning Clinic. Under Step 6, you identified your goals for buyer listings sold and seller listings sold. These two numbers combined equal your annual lead generation goal.

NOTE: If you have not taken the MREA: Business Planning Clinic, use closed sales goals that will net you your desired GCI given your average sales price.

My Closed Sales Goals

____________ Sellers Sold, which in turn leads to ____________ Buyers Sold for a total of _____________ Closed Sales.


Appendix


176BYour Annual Lead Generation Goals Planning for Success (continued)

310BStep 2

Determine how many names you will need in your contact database. Remember your ratios:

To People You’ve Met To People You Haven’t Met

8 x 8

384B33 Touch

12:2 Ratio*

12 Direct

50:1 Ratio** Appears on page 187 of The Millionaire Real Estate Agent

* The 33 Touch program should result in repeat and referral business at a rate of one referral and one repeat for every twelve people in the program. ** Your 12 Direct program should generate one piece of new business for every fifty people in the program.

Based on these ratios, you have three options for meeting your Closed Sales goals:

Option 1: Meet your Closed Sales goal through contact only with people in your Met database (i.e., 8 x 8 followed by 33 Touch).

Option 2: Meet your Closed Sales goal through contact only with people in your Haven’t Met database (i.e., 12 Direct).

Option 3: Meet your Closed Sales goal through contact with a combination of people from your Met and Haven’t Met database. This combined option is recommended.


Appendix



1. Determine the number of contacts you will need using all three options. Refer to the examples on the next page for assistance).

UOption 1:U Using Met database only

You can expect, over time and consistent contact, 2 sales for every 12 names in your database. Based on that ratio, use the following formula to determine the number of contacts you will need:

Closed Sales Goal _____ x 6 (12:2 ratio) = ______ Contacts in your Met Database

UOption 2:U Using your Haven’t Met database only

You can expect, over time and consistent contact, 1 sale for every 50 names in your database. Based on this ratio, use the following formula to determine the number of contacts you will need:

Closed Sales Goal _____ x 50 (50:1 ratio) = ______ Contacts in your Haven’t Met Database

UOption 3:U Using a combination of Met and Haven’t Met

Determine what percentage of your closed sales you would like to come through contact with your Met database and what percentage you would like to come through contact with your Haven’t Met database. Then determine how many sales you will need to get from each database.


If you already have

a lot of names in

your Met

database, you may

choose to go after

80% of your closed

sales through

contact with this

group.

Appendix



Met Haven’t Met

_____ Closed Sales Goal

x _____ % from Met database

= _____ Sales from Met database

_____ Closed Sales Goal

– _____ Sales from Met database

= _____ Sales from Haven’t Met database

_____ Sales from Met database

x 6 (12:2 ratio)

= _____ Contacts in your Met Database

____ Sales from Haven’t Met database

x 50 (50:1 ratio)

= ____ Contacts in your Haven’t Met Database

Examples

If your goal was to net $100,000 and you need about 40 Closed Sales in order to meet that goal, here is what your 3 options would like:

Option 1: You will need about 240 contacts in your Met Database (40 x 12/2 = 240)

Option 2: You will need about 2000 contacts in your Haven’t Met Database (40 x 50 = 2000)

Option 3: You have decided to focus on getting 60% of your closed sales from your Met database and 40% from your Haven’t Met database. Therefore, you need 144 contacts in your Met database and 800 in your Haven’t Met database.

40 (Closed Sales Goal) x 60% from Met database = 24 Sales from Met database.

40 – 24 = 16 Sales from Haven’t Met database

24 (sales from Met database) x 12/2 = 144 contacts in your Met Database

16 (sales from Haven’t Met database) x 50 = 800 contacts in your Haven’t Met Database


Appendix



2. Record your numbers from the previous page in the table below:

Understanding My Options

MET + HAVEN’T MET

Option 1 _______ in database + 0 in database

Option 2 0 in database + ______ in database

Option 3 _______ in database + ______ in database

GOAL: _____ Closed Sales this Year

3. From your list of options above, select which option you will focus on for the next 12 months and record in the table below:

Choosing My Option

Option # MET HAVEN’T MET

_____ _______ in database + _______ in database

GOAL: _____ Closed Sales this Year


Appendix



311BStep 3

Determine how many names you need to add to your database on a monthly basis.

1. Record the following information in the table below to determine how many names you need to add to your database in order to meet your goals:

a. Goal Numbers: The numbers you recorded in Step 2 based on the Option you have chosen to pursue.

b. Current Numbers: How many names you currently have in your Met and Haven’t Met databases.

c. People I need to add: The difference between your Current Numbers and your Goal Numbers. This is how many names you need to add over the next year to meet your goal.

Gap Analysis

MET HAVEN’T MET

Goal Numbers

- Current Numbers

= People I need to add*

* This is the minimum number of people you will need to add to your database in order to meet your goals. This assumes you are converting appointments to listings taken and listings taken to listings sold at the Millionaire Real Estate Agent conversion rates. You may want to think about increasing this number.


Appendix



2. Determine how many names you need to add monthly. You have two options:

a. You can either take the number of contacts you need to add and divide by 10 (factor in 2 months of vacations and holidays);

or b. You can focus on adding more names in the beginning of the year, thus

ensuring that they will receive the number of touches needed to generate sales.

REMEMBER: Your conversion ratios are based on consistent contact over time. Therefore, names added toward the end of the year may not receive enough touches to contribute toward your closed sales goal.

Monthly goals

MET HAVEN’T MET

Month 1:

Month 2:

Month 3:

Month 4:

Month 5:

Month 6:

Month 7:

Month 8:

Month 9:

Month 10:

Month 11:

Month 12:


Evaluation

INSTRUCTOR: _____________________________DATE: ___________

COURSE: ______________________________CITY/STATE: _______________

Directions: Please take two minutes to complete this evaluation. Write a check in the box that best describes your response to these statements:

Instructor ☺

SA

☺

A

D

SD

NO

1. Instructor was credible.

2. Instructor was able to answer questions.

3. Instructor encouraged people to participate and managed discussion well. 4. Instructor communicated in a clear and concise manner.

5. Instructor demonstrated energy and enthusiasm.

6. Instructor effectively used instructional aids (projector, flip chart, video, handouts).

Course Design ☺

SA

☺

A

D

SD

NO

1. There was a good mix of lecture, demonstration, discussion, and role-playing. 2. This course had adequate time for hands-on practice. 3. The topics were presented in a logical order. 4. The pace was just right. (If not, please comment below if it was too fast/slow.) 5. This course will help me do a better job.

Course Materials ☺

SA

☺

A

D

SD

NO

1. The course materials were accurate and up-to-date. 2. The course materials were easy to follow. 3. The course materials were visually appealing.

4. I will use the course materials back on the job.

Comments: __________________________________________________________________________________________________________________________What can we do to improve this course? __________________________________________________________________________________________________________________________

Please give your completed Evaluation to your instructor.

SA Strongly Agree ☺

A Agree ☺

D Disagree

SD Strongly Disagree

Documents

MREA: Systematizing Lead Generationimages.kw.com/docs/0/0/0/000371/1292020613894_MREA_Workshop... · The difference between lead generation and lead receiving 2. ... Understanding